Most, Least Affordable HBCUs

For some students, attending a historically Black college or university (HBCU) in the U.S. aligns with their personal and professional goals. However, as both the inflation rate and cost-of-living expenses increase, affording rising tuition can be a challenge for many students and families.

To learn more about the affordability of HBCUs, LendingTree researchers dug into U.S. Department of Education College Scorecard data, using average annual net cost to determine which schools are the most and least affordable. Net cost includes expenses such as tuition, room, board and books, while accounting for grants and scholarships.

Coahoma Community College in Mississippi is the cheapest HBCU, while Spelman College in Atlanta is the least affordable, according to the findings. Here’s more about the cost of HBCUs.

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Key findings

• Coahoma Community College is the most affordable HBCU. The average annual net cost to attend the two-year public school in Clarksdale, Miss., is $1,004. The No. 2 college — Elizabeth City State University, a four-year public school in North Carolina — has a net cost more than double that, at $2,350.
• Spelman College is the least affordable HBCU. The average annual net cost to attend the four-year private Atlanta school is $43,843. Only one other school — Howard University, a four-year private school in Washington, D.C. — has a net cost above $40,000.
• Denmark Technical College graduates have the lowest median student loan debt among HBCUs. Students graduate from the two-year public South Carolina school with an average of $9,000 in debt. Meanwhile, students at American Baptist College — a four-year private school in Nashville, Tenn. — leave school with the highest median student loan debt at $41,000.
• Only two HBCUs — Clinton College and Spelman College — see at least 75% of their students graduate within 150% of normal time. For Clinton College — a two-year private school in Rock Hill, S.C. — that typically means graduating within three years. At Spelman, that usually means graduating within six years.

Most and least affordable HBCUs

Coahoma Community College in Clarksdale, Miss., is the most affordable HBCU in the U.S. This two-year public school has a net cost of $1,004, less than half that of the next college — Elizabeth City State University, a four-year public school in North Carolina — at $2,350.

Among the five most affordable HBCUs, four are public institutions. Of those five, four are two-year schools, while just one is a four-year college. In fact, most of the institutions at the top of the list are public schools — a mix of two-year and four-year colleges — with private ones appearing periodically. Meanwhile, private schools dominate the bottom of the list.

In particular, Spelman College, a four-year private institute in Atlanta, is the least affordable HBCU, with a net cost of $43,843. Spelman was followed closely by Howard University in Washington, D.C. Howard — also a four-year private institute — has a net cost of $41,289.

The most expensive two-year institution is Virginia University of Lynchburg. This private school has a net cost of $22,042.

Most — and least — affordable HBCUs

Source: U.S. Department of Education College Scorecard.

Looking to leave school with less than $20,000 in debt? Consider these 5 HBCUs

According to our latest student loan debt statistics update, students in the class of 2020 graduated with an average of $28,400 in federal and private debt. However, attending an HBCU and walking away with less than $20,000 in debt is possible.

Five HBCUs have a median student loan debt among graduates of less than $20,000:

• Denmark Technical College
  • Median debt: $9,000
  • Net cost: $13,440
  • Institution type: 2-year public
• Southwestern Christian College
  • Median debt: $9,561
  • Net cost: $7,928
  • Institution type: 4-year private
• St. Philip’s College
  • Median debt: $10,500
  • Net cost: $6,250
  • Institution type: 2-year public
• University of the Virgin Islands
  • Median debt: $15,750
  • Net cost: $10,489
  • Institution type: 4-year public
• Southern University at Shreveport
  • Median debt: $17,250
  • Net cost: $8,878
  • Institution type: 2-year public

On the other hand, many HBCUs have students who graduate with rather large median debts. Across the 88 HBCUs researchers examined (based on available data), 50 had students graduate with a median debt greater than the average across the schools of $28,288.

American Baptist College — a four-year private school in Nashville, Tenn. — and Virginia University of Lynchburg — a two-year private school — had the largest median debt totals among the HBCUs. Both schools are also among the 14 with the highest net cost.

• American Baptist College
  • Median debt: $41,000
  • Net cost: $19,581
  • Institution type: 4-year private
• Virginia University of Lynchburg
  • Median debt: $40,429
  • Net cost: $22,042
  • Institution type: 2-year private

When choosing between a public and private school, LendingTree senior writer Andrew Pentis recommends that students consider the factors that vary the most between the two.

Variables such as tuition, class, campus size and academic program options can swing widely. For instance, a public college is typically much less expensive to attend than a private university. And while a private school might have smaller class sizes, it might also feature less diversity on campus.

“Students who aren’t sure what they want to study might like the idea of attending a larger school, whether it’s public or private, to give them a wider array of degree programs to consider, plus a larger faculty and staff to lean on for support,” Pentis says. “At the end of the day, students should find out which schools suit them best instead of limiting their search to either public or private.”

Median student loan debt among graduates at HBCUs

Source: U.S. Department of Education College Scorecard. Note: HBCUs with incomplete information were excluded.

Where 75% of HBCU students graduate within 150% of normal time

Before going into this statistic, it’s important to know what this means — and why it matters. Graduation rates within 150% of normal time are calculated using factors such as the number of students seeking a degree and completion rates.

For example, for a student seeking a bachelor’s degree at a four-year college, 150% of normal time is usually six years. On the other hand, for a student getting an associate degree, this would mean 150% of normal time is typically three years.

Knowing this information about an institution can give you an idea of how long it may take you to finish your degree at this school.

Among the HBCUs studied, only two schools had 75% of their students graduate within 150% of normal time.

• Clinton College: 75.6%
  • Institution type: 4-year private
  • Location: Rock Hill, S.C.
• Spelman College: 75.1%
  • Institution type: 4-year private
  • Location: Atlanta

This was a bit surprising, according to Pentis, as Spelman College was considered the least affordable school in the study with a net cost of $43,843. While Clinton College was significantly less expensive with a net cost of $15,393, it was still in the bottom half of most expensive HBCUs.

However, schools like Clinton and Spelman have ways to circumvent that reality, such as offering significant financial aid that doesn’t need to be repaid. Spelman, for example, offers a variety of institutional scholarships that cover partial or full tuition costs, with some assistance lasting for as many as four years.

Pentis also points out that higher-priced, more prestigious HBCUs might attract families with deeper pockets.

“These schools might have higher graduation rates, in part, because many of their students went to very good high schools that prepared them for the rigors of college, or perhaps they come from families with multiple generations of college graduates who offer students a great support system for excelling in school,” Pentis said.

HBCU graduation rates within 150% of normal time

Source: U.S. Department of Education College Scorecard. Notes: For full-time undergraduates seeking bachelor’s degrees, 150% of normal time is typically six years. For full-time undergraduates seeking associate degrees, it’s typically three years. HBCUs with incomplete information were excluded.

3 years after entering repayment, these HBCUs have the biggest groups paying down student loan debt

Another important factor to understand when looking at HBCUs is repayment rates.

This is defined as the percentage of student borrowers that haven’t defaulted on their loans and are making repayments. This rate is typically measured at the one-, three-, five- and seven-year marks after students start paying their loans.

LendingTree researchers found that the schools with the highest repayment rates after three years are generally four-year public or private institutions. According to the data, the following schools had repayment rates above 60% after three years:

• Dillard University: 69.1%
  • Institution type: 4-year private
  • Net cost: $17,128
• Southern University at New Orleans: 68.3%
  • Institution type: 4-year public
  • Net cost: $7,632
• Xavier University of Louisiana: 66.4%
  • Institution type: 4-year private
  • Net cost: $19,715
• Southern University and A&M College: 65.2%
  • Institution type: 4-year public
  • Net cost: $16,312
• Tuskegee University: 62.2%
  • Institution type: 4-year private
  • Net cost: $34,575

Repayment rates among HBCUs

Source: U.S. Department of Education College Scorecard. Notes: The repayment rate is measured at three years after entering repayment. HBCUs with incomplete information were excluded.

Finding the right HBCU

Because there are various factors to consider, finding the right HBCU fit can be challenging.

“Students and their families tend to focus their attention on schools instead of themselves, even getting dreamy-eyed about particular colleges or universities, whether because of their prestigious reputations, city locations or sports teams,” Pentis says.

Instead, Pentis advises parents and students to focus on their family’s priorities. Here’s how you can approach this:

• Build a list of what the student wants to get out of their HBCU college experience. This can include proximity to a support system such as family, school size or access to certain majors, classes and activities.
• Once that list is complete, the student can go out and see which HBCUs are the best match for what they’re seeking. When visiting schools, they should be sure to go when school is in session to get a good impression of what day-to-day life is like as a student. The student may also want to take a tour of the campus, meet with an admissions counselor and sit in on a lecture.
• Once the family has a list of HBCUs that mostly fit their criteria, it’s time to compare those schools on an apples-to-apples basis, looking at objective facts like costs and graduation rates. Ideally, the family will be left with at least a few affordable schools that are still likely to support the student from admission to graduation.

Methodology

LendingTree analysts looked at data on historically Black colleges and universities (HBCUs) to rank the most and least affordable institutions.

Researchers gathered average annual net costs to attend each school and ranked them from lowest to highest. Net cost measures the average annual total cost of attendance, including tuition and fees, books and supplies, and living expenses, minus the average grant/scholarship aid. It’s calculated for all full-time, first-time, degree or certificate-seeking undergraduates who receive Title IV aid.

The latest available data is from the U.S. Department of Education College Scorecard for the 2019-20 school year.