The Department has statutory authority to guarantee bonds for up to $1.1 billion (no more than $733,333,333 must be used for private HBCUs and no more than $366,666,667 will be used for public HBCUs). Currently, the HBCU Capital Financing Program’s outstanding balance is about $915 million ($246 million attributed to public HBCUs and $733 million attributed to private HBCUs). Because the outstanding interest and principal cannot exceed $1.1 billion, there is only about $121 million available for new loans to public HBCUs because private HBCU funding has reached its statutory aggregate limit of $733 million.

The remaining amount of funds available to lend in any year is determined by annual Congressional appropriations and can vary.

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