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Four Black Colleges Receive $400 Million in Federal Katrina Recovery Loans

Four historically black colleges three in New
Orleans and one in Mississippi
are getting almost $400 million in ultra-low-interest federal loans to recover
from Hurricane Katrina’s destruction.

James Manning of the Education Department presented checks
Wednesday to the leaders of Southern University at New Orleans, which is still
operating out of temporary buildings, Dillard and Xavier universities and
Tougaloo College in Tougaloo, Miss.

“You can’t imagine how important this is to us,”
Dillard President Marvalene Hughes said. “This is a day … that means,
with the type of creativity we can utilize, we can revitalize our

Xavier is getting $165 million, Dillard $160 million, SUNO
$44 million and Tougaloo $28.6 million. Congress approved the loans, which have
no interest for their first three years and 1 percent for the remaining 27.

Information from: The Times-Picayune,

– Associated Press

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