Dec. 19 (UPI) -- President Donald Trump on Thursday signed a bill restoring annual funding for Historically Black Colleges and Universities and other minority-serving institutions.
The legislation known as the FUTURE Act guarantees more than $2.5 billion for minority-serving institutions throughout the next 10 years including $850 million specifically for HBCUs, Trump said in a statement announcing the signing.
"A few months ago, funding for HBCUs was in jeopardy. But the White House came together and reached a historic agreement," Trump said.
The law also includes reforms to the Free Application for Federal Student Aid, or FAFSA, program eliminating a process that required some students to verify IRS documentation with the Department of Education for their aid to be released.
"From eliminating up to 22 questions on the FAFSA form to reducing burdensome verification paperwork, applying for and receiving student aid will now be easier, faster and more secure than ever," Education Secretary Betsy DeVos said in a statement. "Importantly, this law ensures students will not have to provide the government the same information twice, which also protects taxpayers from improper payments."