For historically black colleges, racism raises costs

An official from the Thurgood Marshall College Fund told CBS News MoneyWatch that they plan to contact the U.S. Secretary of Education regarding finance professor Paul Gao‘s new study “What’s in a (School) Name? Racial Discrimination in Higher Education Bond Markets.” 

“We will be sending a formal letter to U.S. Secretary of Education DeVos to request that she look into these findings and work with us to find solutions for HBCU sustainability and higher education equality,” writes…Harry L. Williams, CEO of the Thurgood Marshall College Fund, in an email to CBS MoneyWatch. “The findings that this study makes also helps to reemphasize the importance of the HBCU Capital Finance Program, which is a lower-cost alternative to existing bond markets, and about the work that the Department of Education needs to undertake to further educate and engage more HBCUs in the Cap Finance program.”