WASHINGTON
The Senate and the House have voted to pass the FUTURE Act, a bipartisan proposal to authorize permanent funding for Historically Black Colleges and Universities (HBCUs), Tribally Controlled Colleges or Universities (TCUs), and other Minority-Serving Institutions (MSIs).
The legislation, which comes after months of negotiation between House and Senate leaders, provides more than $250 million in mandatory funding per year for these institutions. It also facilitates stronger cooperation between the IRS and Department of Education to simplify the Free Application for Student Aid (FAFSA).
Chairman Bobby Scott (VA-03), who heads the House Committee on Education and Labor, said in advance of the House vote, “Now, after careful negotiation and compromise, the bill we are voting on today does not just guarantee more than $250 million per year for HBCUs and MSIs, it simplifies the Free Application for Student Aid, or FAFSA, and makes it easier for students to access student aid and repay their loans. I would like to give special thanks to Chairman Neal for his dedication and hard work in negotiating to bring this legislation to the floor.”
The FUTURE Act would ensure that:
• Historically Black Colleges and Universities (HBCUs) continue to receive $85 million per year.
• American Indian Tribally Controlled Colleges and Universities (TCCUs) continue to receive $30 million per year.
• Hispanic-Serving Institutions (HSIs) continue to receive $100 million per year.
• Predominantly Black Institutions (PBIs) continue to receive $15 million per year.
• Alaska Native and Native Hawaiian-Serving Institutions (ANNHs) continue to receive $15 million per year.
• Asian American and Native American Pacific Islander-Serving Institutions (AANAPISIs) continue to receive $5 million per year.
• Native American-Serving, Nontribal Institutions (NASNTIs) continue to receive $5 million per year.
