Since their founding in segregation, the nation's historically Black colleges and universities have been studies in resourcefulness, contrasts, resoluteness, possibilities and miracles. But have the past 20 years marked the worst of times for these venerable, public and private institutions? Despite their problems--fractured budgets, ailing and aging infrastructures, and revolving door leadership--they continue to do more with less while managing to outpace majority institutions in training and producing the majority of the nation's Black teachers, preachers, social workers, lawyers, doctors, journalists, engineers and scholars. For the first time in their history, a record number of HBCUs are embroiled in fiscal mismanagement or confronting serious financial problems, among them--Grambling State University, Texas College, Wilberforce University, Fisk University and Central State University. Atlanta's Morris Brown College and nearly a dozen other HBCUs since the mid-1970s have received warnings or been placed on probation by accreditation agencies, mostly for financial problems or have had to close their doors--permanently.