This brief from the Hunt Institute explores the history and challenges faced by historically Black colleges and universities (HBCUs) that were established to provide Black Americans with postsecondary education during the era of legal segregation. Highlighting the pivotal role of HBCUs in higher education, the brief traces their evolution, obstacles, and contributions. It emphasizes the systemic underfunding of HBCUs, particularly in relation to land-grant institutions, revealing significant funding disparities. The brief discusses the impact of underfunding on HBCU resources, student services, and research capabilities. It also addresses federal accountability and the ongoing need to rectify funding gaps, emphasizing the vital role HBCUs play in higher education.