Changes in credit history requirements for the federal Parent PLUS student loan are affecting historically black colleges and universities (HBCUs). HBCUs often serve students from lower income families. This means that the people applying for loans are less likely to pass credit background checks. Morgan State University is trying to raise 300,000 in emergency scholarship funds for hundreds of undergraduate students.
Morgan State University along with other Maryland HBCUs recently sent a letter to Barack Obama requesting that the changes to the federal student loan be reversed because of the negative impact it is having on students.