Abstract
This paper considers the returns to attending a Historically Black College/University (HBCU) across three decades. With data from the National Survey of Black Americans, we use matching estimators to determine the treatment effect of HBCU attendance and graduation on a broad measure of labor market outcomes, and two psychological outcomes. We find that the treatment effect of HBCU attendance and graduation are
positive with respect to labor market outcomes across three decades, but mixed with respect
to black identity and self-esteem. Our results suggest that while HBCUs may not confer pyschological advantages, they continue to afford students and graduates relatively superior labor market outcomes.

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