The Department's initial statutory authority guaranteed bonds for up to $375 million (no more than $250,000,000 will be used for private HBCUs and no more than $125,000,000 will be used for public HBCUs). However, the Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery, 2006 (P.L. 109-234) allows the program to exceed its initial statutory authority regarding guaranteed bonds to make loans to HBCUs affected by the 2005 Gulf hurricanes.

Currently, the program's outstanding balance is approximately $700,000,000 (about $590,000,000 to private HBCUs and about $110,000,000 to public HBCUs).