There's great news for students who opt for HBCUs over traditional white-majority institutions.

African-Americans who graduate from a historically Black college or university do better financially than Blacks who graduate from traditionally white colleges and universities, according to a new study by economists at Morehouse College and Howard University.

“Our results suggest that as HBCUs afford graduates relatively superior long-run returns, they continue to have a compelling educational justification as the labor market outcomes of their graduates are superior to what they would have been had they graduated from a non-HBCU,” wrote the researchers.

As the debate about the relevance of HBCUs continues, this survey shows that these schools continue to serve a purpose for students.

The study was published last month in the Review of Black Political Economy, and was written by Gregory N. Price of Morehouse College and William Spriggs and Omari H. Swinton of Howard University.