Warren proposes $50 billion fund to invest in historically black colleges

Warren proposes $50 billion fund to invest in historically black colleges

Sen. Elizabeth WarrenElizabeth Ann WarrenTrump preps conspiracy theory to explain faltering economy Sanders, Warren back major shift to fight drug overdoses Rendell: Biden 'baked in' as Democratic nominee MORE (D-Mass.), who is running for president, has proposed investing $50 billion in historically black colleges and universities (HBCUs) and other minority serving institutions (MSIs). 

Her plan, detailed in an op-ed on the website Blavity, would give colleges discretion to use the money how they wish, including to reduce tuition, invest in facilities, hire faculty or admit more students. 

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She wrote that she plans to fund the proposal through a 2 percent wealth tax on approximately 75,000 of the wealthiest families in the country.

The proposal would also allow private private HBCUs and MSIs to join the federal free-tuition program available to public colleges.

In addition it would give financial incentives to states with high enrollment and completion rates for students of color and would prohibit public colleges from making admissions decisions based on citizenship status or criminal background.

"My plan will address the historical injustices in American education and ensure that opportunities are fairly available to everyone," she wrote. 

Warren has put forth other education proposals, including canceling student loan debt and creating universal free college. She is among more than 20 people vying for the Democratic Party's 2020 presidential nomination.