Michael L. Lomax, president and CEO of the United Negro College Fund, announced plans to step down in June 2027 after two decades leading the major advocacy organization for private historically Black colleges and universities. During his tenure, Lomax has raised more than $4 billion in support for HBCUs and established a pooled endowment while elevating the institutions’ visibility among philanthropists and policymakers across the political spectrum.
Lomax reflected on significant changes in the HBCU landscape since he began his education at Morehouse College in 1964. He characterized the current period as a renaissance for historically Black institutions, driven by a new generation of students seeking immersive educational experiences that combine technical skills with cultural and social dimensions. According to Lomax, younger students prioritize environments where they feel embraced rather than merely tolerated, and they value comprehensive development as whole persons rather than narrow vocational preparation.
The departing leader identified financing as the sector’s primary challenge, noting that HBCU students disproportionately come from moderate- to low-income families and face significant barriers to affording education without substantial debt. Lomax highlighted the substantial gap in institutional wealth between HBCUs and other institutions, with HBCUs averaging approximately $15,000 in endowment funds per student compared to $400,000 at non-HBCUs. He cited major philanthropic commitments, including $100 million from Lilly Endowment and $80 million from MacKenzie Scott, as evidence of growing investor confidence in the institutions.
Lomax emphasized that HBCUs are well-positioned to prepare graduates for technological advancement while maintaining focus on values, creativity, and civic responsibility. He stressed UNCF’s commitment to nonpartisan engagement across political divides and called for more forgiving federal loan programs to support student access. Following his retirement, Lomax plans to return to teaching and mentoring at Morehouse College and Spelman College while continuing to support HBCUs through fundraising consulting and advisory work.
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