Student Debt Profile By Conference (School By School) – The SIAC

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Albany State University

Average debt of graduates, 2011 – $32 034

Proportion of graduates with debt, 2011 – 90%

Nonfederal debt, % of total debt of graduates, 2011 – 4%

2010-11 Pell Grant recipients – 76%

Benedict College

Average debt of graduates, 2011 – N/A

Proportion of graduates with debt, 2011 – N/A

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 84%

Central State University

Average debt of graduates, 2011 – N/A

Proportion of graduates with debt, 2011 – N/A

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 76%

Claflin University

Average debt of graduates, 2011 – N/A

Proportion of graduates with debt, 2011 – N/A

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 70%

Clark Atlanta University

Average debt of graduates, 2011 – N/A

Proportion of graduates with debt, 2011 – N/A

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 70%

Fort Valley State University

Average debt of graduates, 2011 – N/A

Proportion of graduates with debt, 2011 – N/A

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 75%

Kentucky State University

Average debt of graduates, 2011 – $36 293

Proportion of graduates with debt, 2011 – 30%

Nonfederal debt, % of total debt of graduates, 2011 – 0%

2010-11 Pell Grant recipients – 52%

Lane College

Average debt of graduates, 2011 – $8 619

Proportion of graduates with debt, 2011 – 87%

Nonfederal debt, % of total debt of graduates, 2011 – 3%

2010-11 Pell Grant recipients – 88%

Lemoyne-Owen College

Average debt of graduates, 2011 – $19 369

Proportion of graduates with debt, 2011 – 95%

Nonfederal debt, % of total debt of graduates, 2011 – 0%

2010-11 Pell Grant recipients – 80%

Miles College

Average debt of graduates, 2011 – N/A

Proportion of graduates with debt, 2011 – N/A

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 78%

Morehouse College

Average debt of graduates, 2011 – $29 500

Proportion of graduates with debt, 2011 – 80%

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 49%

Paine College

Average debt of graduates, 2011 – N/A

Proportion of graduates with debt, 2011 – N/A

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 74%

Stillman College

Average debt of graduates, 2011 – $30 429

Proportion of graduates with debt, 2011 – 96%

Nonfederal debt, % of total debt of graduates, 2011 – N/A

2010-11 Pell Grant recipients – 79%

Tuskegee University

Average debt of graduates, 2011 – $28 575

Proportion of graduates with debt, 2011 – 91%

Nonfederal debt, % of total debt of graduates, 2011 – 29%

2010-11 Pell Grant recipients – 64%

Source: Project on Student Debt

The HBCUpreneur Corner – FSU & A&T’s Keysha Best & Elect Elegance

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Name: Ms. Keysha Best

Attended: Fayetteville State University; North Carolina A&T State University

Business Name & Description: Elect Elegance the Boutique, Women’s clothing, shoes & accessories

What year did you found your company? 2011

What was the most exciting and/or fearful moment during your HBCUpreneur career? The most exciting day was the day I got my first ‘like’ on the facebook business page. To know someone was interested enough in what I was about to offer them was humbling. Can’t say I’ve experienced fear yet. Even when I fail to meet a certain goal, I’m excited about the lesson that was gained in it.

What made you want to start your own company? Having been perceived as “fashionable” for so long, I was ready to offer women style and looks at affordable prices and hope that I could encourage them to become more confident and proud of whom they were.

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Who was the most influential person/people for you during your time in college? Having graduated HS at 16, my college experience was not the most memorable in a positive way. I did however, meet my husband while in school and he has influenced me tremendously since then.

How do you handle complex problems? Every problem that’s presented to me I look at it as if my entire company is riding on it. If it’s one customer or one vendor, I handle it with compassion because I never know how those individuals may show up again in the future. Other issues I try not to stress about. Being a fairly new company and not having any professional training in retail, every lesson is self-taught. I don’t want to be too hard on myself because I’ll lose sight of my end goal(s).

What is something you wish you had known prior to starting your company? I wish I would’ve known that there were a million other female (and some male) entrepreneurs trying to do the same thing. Finding that out now makes me try harder to set myself apart from the others. We may all have the same products to offer but I want to give my customers more than just a piece of jewelry or clothing.

What do you believe HBCUs can do to spur more innovation and entrepreneurship while their students are in school either as undergraduate or graduate students? I honestly don’t believe an institution can assist in this area. It’s a mindset. Some people feel the need that they HAVE to work for someone else, not realizing that they’re working for an entrepreneur. Perhaps if students were actually persuaded to take courses in things that they are naturally gifted and talented in, they would see that they are here for another purpose. But again, that’s way past a standard any University can set.

How do you deal with rejection? I haven’t physically experienced it yet. What I could call rejection is perhaps someone not liking my pages but I would write that off as them either not knowing about it or feeling my products aren’t what they need at present.

When you have down time, how do you like to spend it? When I’m not spending time with my family, I’m shopping for exclusive items. I don’t have much down time.

In leaving is there any advice you have for budding HBCUpreneurs? Things may go wrong, and they may happen more often than you wish but you only fail when you quit. Take every setback as a lesson and learn from it.

The HBCU Endowment Feature – Tougaloo College

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School Name: Tougaloo College

Median Cost of Attendance: $16 112

Undergraduate Population: 945

Endowment Needed: $304 516 800

Analysis: Tougaloo College needs approximately $305 million for all of its students to attend debt free annually. The amazing part of this is the number is that the school does not need that much. With its current endowment around $10 million it is not completely unfeasible to believe this amount could be accomplished within a decade. As with the other HBCUs in Mississippi it faces the demographic issues of the others. High levels of poverty in the state make it very difficult to build a large endowment for any higher education institution. It is often magnified within the HBCU sphere. Another major headwind is the student body size. Tougaloo simply is not producing a large enough number of students to create income power. The school has an excellent reputation among the inner HBCU circles but like many of the smaller HBCUs has a hard to leaving its footprint among the mainstream of African America. It is geographically close to Louisiana, which presents another problem area it must deal with. At the same token it also presents opportunity to influence parts of southeastern Louisiana. The enrollment at the school needs to grow at least double its current size, even healthier would be a growth of 150 percent in order for it to really make significant strides in earning power and potential donors. The school and its endowment are extremely well run for a school its size and thus as it continues down its current path, with any growth in demographics in its favor could see it becoming a major player in the HBCU endowment space.

As always it should be noted that endowments provide a myriad of subsidies to the university for everything from scholarship, faculty & administration salaries, research, and much more.

HBCU Money™ Business Book Feature – Lasting Valor

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Lasting Valor tells of some of the most dramatic acts of courage attempted in the entire Mediterranean theater during WWII–acts that resulted in Baker’s being awarded the Purple Heart, a Bronze Star and Distinguished Service Cross. On April 15, 1945, as part of one of the last segregated outfits to go to war for the United States, Lieutenant Baker knew he and his men were being deserted when, during the battle for Castle Aghinolfo in Northern Italy, his white commander told him he was going for reinforcements. Caught three miles behind enemy lines, and with half their comrades in arms dead, they refused to turn and run. Although he was decorated for his efforts, the army quietly surpressed this action until 1997, when Baker was awarded the Medal of Freedom by President Bill Clinton.

Lasting Valor also reveals Baker’s early life. An orphan raised by grandparents in nearly all-white Cheyenne, Wyoming, he survived a rocky adolescence and went on to live in Father Flanagan’s Home, and then to fight to join a segregated army. His years in the army are recounted, and give us a rare glimpse into the life of a World War II black infantryman. It is a powerful book; as The Washington Post praised: “Whites should read this book to learn of Baker’s accomplishments against a background of severe prejudice. Blacks should read it for the heroism it reveals. Everybody should read it for the power of its narrative.”

HBCU Money™ Dozen Links 2/25 – 3/1

Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure.

Government Departments

Apply for the $5,000 Gift of Life Scholarship. Application deadline is 3/22 l Fund for Public Schools http://bit.ly/12heKhT

Energy efficiency upgrades to St. Louis City Hall resulted in energy savings of 50 percent l Energy http://go.usa.gov/2Yvd

USDA to Simplify Guaranteed Farm Loans by Setting Thresholds on Interest Rates l USDA http://1.usa.gov/XtwXDq

Breastfeeding is an invaluable asset in emergency planning. l Women’s Health http://go.usa.gov/2xFh

Fight cyber with cyber, or hit ’em where it hurts? l Government Computer News http://ow.ly/ibxps

New estimates cut farm bill savings l Senate News http://bit.ly/ZRwhf7

Federal Reserve, Central Banks, & Financial Departments

Saving as a % of disposable personal income dips to 2.4% in January, lowest since November 2007 l St. Louis Fed http://bit.ly/YH5rBG

Chart: Personal consumption expenditures (PCE) rose 0.2% in January after rising 0.1% in December l St. Louis Fed http://bit.ly/ZQZLK1

Chart: Construction spending declined in January to an annual rate of $883 billion l St. Louis Fed http://bit.ly/14a8KTj

Great resources for students interested in microfinance l World Bank http://ow.ly/i9FJh

The Supply of College-Educated Workers: The Roles of College Premia, College Costs, and Risk l Richmond Fed http://bit.ly/Yc76zW

Non-housing debt balances increased for the 3rd straight quarter & now stand at $2.75 trillion l NY Fed http://goo.gl/kSCQL

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important government and central bank articles of the week.