The Report Highlights the Critical Contribution of Benedict College to the State of South Carolina
Columbia, SC—October 8, 2024, UNCF (United Negro College Fund), the nation’s largest and most effective minority education organization, recently unveiled its 2024 HBCU Economic Impact Report. The report, Transforming Futures: The Economic Engine of HBCUs, commissioned by UNCF’s Frederick D. Patterson Research Institute (FDPRI), is a comprehensive, data-driven analysis highlighting the substantial contributions that historically Black colleges and universities (HBCUs) make to their students, local communities and the nation.
“Benedict College has been a longstanding UNCF-member institution, and our economic impact on the nation’s economy is undeniable. The College generates $78.7 Million in total economic impact to our local and regional economies,” noted Dr. Roslyn Clark Artis, President and CEO of Benedict College. “The College generates 723 jobs and for each job created on campus, another 1.2 public and private-sector jobs are created off campus because of Benedict College related spending.”
HBCUs have long been pillars of educational excellence and economic engines, driving prosperity across the nation. Despite these contributions, chronic underfunding threatens their ability to maintain this high level of impact. Additionally, HBCUs like Benedict play a major role in the economic success of our graduates by enhancing their education, training and leadership skills. The total earnings of Benedict’s 2021 Graduates is $434.9 Million which is 80% more than they could expect to earn without their college credentials.
Transforming Futures: The Economic Engines of HBCUs underscores the urgent need for equitable and sustainable funding to ensure HBCUs can continue their vital role in promoting social mobility and economic growth and calls on the public to advocate for these essential institutions.
“As UNCF observes its 80th anniversary, one of the highlights of our yearlong celebration is the release of the sequel to our groundbreaking 2017 report. This report reaffirms what we have always known about the resilience of HBCUs: despite a deadly pandemic, social unrest caused by the murders of George Floyd and Breonna Taylor, and the economic uncertainties of the past seven years, HBCUs continue to do more with less— not only in preparing the next generation of leaders but also in contributing to our nation’s economic impact,” said Dr. Michael L. Lomax, president and CEO, UNCF. “At this critical moment, with a crucial election on the horizon, we all must immediately actualize our commitment to these cornerstone institutions.”
Transforming Futures: The Economic Engines of HBCUs is a continuation of the landmark 2017 study, HBCUs Make America Strong: The Positive Economic Impact of Historically Black Colleges and Universities, which showed that the economic benefits of HBCUs extend beyond the students they educate. In addition to the comprehensive report, a website has been launched where users can explore state-specific data and insights for individual HCBUs. This resource allows users to explore the localized impact of any given HBCU, emphasizing the critical role HBCUs play in communities across the nation.
In the months to come, UNCF will shift its focus towards voter mobilization efforts, leveraging the findings of the 2024 HBCU Economic Impact Report to raise awareness about the critical role of HBCUs nationwide. UNCF encourages voters to support policies that strengthen HCBUs, and to send letters to elected leaders at the state and federal levels in support of equitable funding and resources for these crucial institutions.
To explore the full report of Transforming Futures: The Economic Engines of HBCUs, visit: https://UNCF.org/HBCUImpactReport
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About Benedict College (www.benedict.edu)
Founded in 1870 by a woman, Bathsheba A. Benedict, Benedict College is a private co-educational liberal arts institution offering 26 competitive baccalaureate degree programs and two master’s degree programs. The Midlands HBCU welcomes students from all counties in South Carolina, several states across America, and many countries around the world. The College also has a diverse faculty deeply engaged in teaching, research, and service.
Benedict College has been highly regarded and exceptionally ranked for its programs by several academic and traditional publications. Benedict College is the recipient of the 2024 UNCF Institutional Excellence Awardgiven by UNCF’s Institute for Capacity Building Program in celebration of an HBCU that achieved next-level performance. Benedict was also named HBCU of the Year by HBCU Digest and was listed among the top half of ranked HBCUs in the 2022 edition of Best Colleges by US News and World Report.
Benedict College is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award baccalaureate and master’s degrees. Five of the College’s degree programs hold national accreditation: Social Work Program, Environmental Health Science Program, Environmental Engineering, Studio Art, and the Tyrone Adam Burroughs School of Business and Entrepreneurship.
