This research seeks to understand the financial characteristics of HBCUs that enroll a large proportion of students who come from low-income families and how these characteristics influence student success in STEM. The study used secondary data from the Integrated Postsecondary Education Data System (IPEDS) to examine the financial metrics of HBCUs that are associated with the percent of students awarded Pell grants. The sample size consists of 84 four-year HBCUs that submitted financial information to IPEDS. Included in this sample are HBCUs that serve undergraduate students with active grants funded through the National Science Foundation Scholarships in Science, Technology, Engineering, and Mathematics (S-STEM) program.