Forbes Unveils First-Ever HBCU-Only Ranking: Howard and North Carolina A&T Lead the Way

Forbes has released its first ranking devoted exclusively to historically Black colleges and universities, recognizing 20 HBCUs that the publication says provide strong outcomes for their graduates. The groundbreaking list is divided evenly between private and public institutions, offering a fresh perspective on HBCU excellence.

Howard University earned the No. 1 position among private HBCUs, while North Carolina A&T State University led the public-school ranking. The achievement marks another distinction for North Carolina A&T, the nation’s largest HBCU and an institution widely recognized for producing Black engineers.

The Top Five Private Institutions

Spelman College, Morehouse College, Xavier University of Louisiana and Hampton University completed the top five among private institutions. They were followed by Tuskegee University, Fisk University, Talladega College, Clark Atlanta University and Tougaloo College.

The private HBCU leader, Howard, posted a six-year graduation rate of 69 percent and a 90 percent retention rate. Forbes listed the median pay of Howard graduates at $70,600 during the early stages of their careers and $123,200 by mid-career.

Spelman recorded the highest graduation rate of any school in the ranking at 76 percent. The Atlanta women’s college also had a 91 percent retention rate, the highest among the leading private institutions. Meanwhile, Morehouse stood out in alumni earnings, with Forbes reporting median mid-career pay of $126,700 for its graduates — the highest figure among the three top-ranked private HBCUs.

Public HBCUs Make Strong Showing

Florida A&M University ranked second among public HBCUs, followed by Prairie View A&M University, Morgan State University and the University of the Virgin Islands. Tennessee State University, Bowie State University, Winston-Salem State University, Elizabeth City State University and Delaware State University rounded out the public top 10.

North Carolina A&T’s position atop the public list showcased a six-year graduation rate of 55 percent. Prairie View A&M also performed strongly in the earnings category, with the Texas institution demonstrating significant return on investment for its graduates.

Only Howard and Spelman appeared on the broader Forbes list of America’s Top 500 Colleges for 2026. The publication acknowledged that lower graduation and retention rates hurt many HBCUs under traditional ranking systems, noting that fewer than 40 percent of HBCU freshmen nationally complete a degree within six years, compared with approximately 60 percent of students entering four-year colleges overall.

These figures exist within a larger financial reality. HBCUs enroll a greater share of students with significant financial needs. Forbes noted that 56 percent of HBCU students received Pell Grants during the 2023-24 academic year, compared with 32 percent of all undergraduates. Schools received additional consideration in the ranking for producing positive results among students who receive federal Pell Grants.

The Forbes list offers another look at which institutions are turning the historic HBCU mission into measurable success for today’s graduates.

Originally reported by HBCU Gameday.