To address the difficulties Historically Black Colleges and Universities often face accessing
traditional funding sources, the U.S. Department of Education created the HBCU Capital Financing Program
and selected Rice Capital Access Program, LLC, to administer the program loans.

RICE CAPITAL ACCESS PROGRAM

Providing Low Cost Capital for HBCU Improvements

Historically Black Colleges and Universities have played a vital role in American history. Originally created to provide educational opportunities for African Americans after the Civil War, more than 100 HBCUs are still open and thriving today.

The HBCU Capital Financing Program was created to help HBCUs finance important capital projects at the lowest cost of borrowing available in today’s challenging credit environment. The Department of Education guarantees repayment of principal and interest for each HBCU loan with the Secretary of Education’s Letter of credit and an escrow that borrowers can use to pay for any delinquency or default. Program loans range in size from under $10 million to more than $100 million.

Since 2009, Rice Capital Access Program has facilitated over $1.2 billion in direct loans for public and private higher education institutions through the program.

Qualifying

Look here to see if your institution qualifies for the program.

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How to apply

Applying is straightforward. Assemble the required documents from the documentation checklist and submit them with your loan application.

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What to Expect

Review our sample timetable to see the steps in the process.

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Case Studies

Browse through these case studies to see how the program
has helped other HBCUs.

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HBCU LOAN RATES

  • HBCU loans are the lowest cost way to finance capital projects.
  • Rates vary according to the term of the project.
  • Loans are available at 0.225% (22.5bp) over the corresponding short‐term
    Treasury note or long‐term Treasury bond and are often fixed for the life of the loan.

Program Updates and News

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South Carolina State University, October 2016

20130219_jarvis_seal_021813

Jarvis Christian College, September 2016

dukeuniversity

Bond Market Research Spurs Congressional Action

News release from the Duke University-Fuqua School of Business, July 14, 2016.

Transaction Highlights

$152,000,000
ALABAMA STATE UNIVERSITY

ALABAMA STATE UNIVERSITY

Refinancing
03/06/18

$27,000,000
Southern University

Southern University of Baton Rouge

Refinancing
12/6/17

$27,500,000
Stillman College (AL)

Morehouse School of

Medicine (GA)

Refinancing and New
Money Loan
10/18/17

$12,500,000
Meharry Medical College (TN)

Southern University at

Shreveport (LA)

Refinancing
9/28/17

$100,000,000
Alabama A&M University

GRAMBLING STATE UNIVERSITY (LA)

Refinancing and
New Money Loan
11/30/16

$36,600,000
South Carolina State University

South Carolina State University

Loan Refinancing
9/27/16

$25,000,000
Jarvis Christian College (TX)

Jarvis Christian College (TX)

Refinancing and
New Money Loan
7/28/16

$38,000,000
Livingstone College (NC)

Livingstone College (NC)

Refinancing and
New Money Loan
12/3/15

$21,000,000
Lawson State Comm. College (AL)

Lawson State Comm. College (AL)

Refinancing and
New Money Loan
7/16/15

$14,727,000
Philander Smith College (AR)

Philander Smith College (AR)

Refinancing
6/11/15

$19,000,000
University of the Virgin Islands

University of the Virgin Islands

New Money Loan
2/27/15

$30,035,000
Arkansas Baptist College

Arkansas Baptist College

Refinancing and
New Money Loan
12/3/14

$26,150,000
Johnson C. Smith University (NC)

Johnson C. Smith University (NC)

Refinancing and
New Money Loan
8/28/14

$18,500,000
Voorhees College (SC)

Voorhees College (SC)

Refinancing and
New Money Loan
6/26/14

$7,500,000
Grambling State University (LA)

Grambling State University (LA)

New Money Loan
5/29/14

$13,500,000
Central State University (OH)

Central State University (OH)

Refinancing
9/24/13

$19,000,000
Morehouse College (GA)

Morehouse College (GA)

Refinancing
9/10/13

$56,000,000
Benedict College (SC)

Benedict College (SC)

Refinancing and
New Money Loan
6/27/13

$60,065,000
Hampton University (VA)

Hampton University (VA)

Refinancing
5/30/13

$55,000,000
Texas Southern University

Texas Southern University

New Money Loan
9/27/12

$40,000,000
Stillman College (AL)

Stillman College (AL)

Refinancing
9/13/12

$60,000,000
Meharry Medical College (TN)

Meharry Medical College (TN)

New Money Loan
8/30/12

$16,060,000
Florida Memorial University

Florida Memorial University

New Money Loan
6/7/12

$96,000,000
Alabama A&M University

Alabama A&M University

Refinancing and
New Money Loan
9/24/15

$28,000,000
Florida Memorial University

Tuskegee University (AL)

Refinancing
8/4/17