FAMU will receive another $26,309,311 from the federal government as a result of the $2.2 trillion-dollar stimulus bill passed by Congress in late March. $16.8m will come from the strengthening HBCU fund and $9.4m will come from the strengthening HBCU graduate institution fund.
The U.S. Department of Education announced on Friday, that it was making available nearly $1.4 billion Congress set-aside for HBCUs and other minority-serving institutions. Earlier last month it was announced that FAMU would receive $13,051,325 from the $12.5 billion in grants made available to all higher education institutions included in the federal stimulus bill.
The new funding can be used to cover operational costs, such as lost revenue, to expand IT capacity and remote learning, reimbursements for prior expenses and payroll.
HBCUs, however, are seeking another $1.5 billion to cover the financial hit they’re taking during the pandemic.