Student Freedom Initiative (SFI) is a 501(c)3 nonprofit organization that provides a catalyst for freedom in professional and life choices for students attending a Minority Serving Institution (MSI) by increasing their social and economic mobility. In close collaboration with participating schools and other strategic partners, we address the wealth gap through the lens of affordable access to a college education, opportunity for hands on professional and life training, integrated student services, and technology enhancement. We provide support to students that enable their future personal and professional success in a global marketplace and targeted support to participating institutions that increase their resiliency and competitiveness as anchors within their respective communities.
To date, Student Freedom Initiative has received generous contributions from Robert F. Smith, Fund 2 Foundation, Cisco, Jane Street, Prudential, and the Walmart Foundation. The program has also been acknowledged and supported by the Business Roundtable’s Racial Equity & Justice Subcommittee on Education. Our ability to provide support to MSI students is based on the continued financial support of these donors and others interested in supporting our mission.
Core Values
Student-Centered
SFI remains acutely focused on the interest of students/families and recognizes that their success benefits communities, employers and MSIs.
Holistic
SFI elevates the totality of the MSI ecosystem; recognizes the implication to people, process, technology, and governance; and provides a suite of solutions that enable MSI and student success.
Evidence-Based
SFI refines and adjusts its program to optimize student outcomes based on continuous analysis of data throughout the program’s lifecycle, and generates high quality research to support broad(er) adoption of this transformative program.
Collaborative
SFI develops mission-aligned, strategic partnerships; leverages core competencies of subject matter experts; and capitalizes on synergies with related goals.
History of Student Freedom Initiative
As a philanthropist, an industry leader and an entrepreneur, Robert F. Smith has used his platform to help create opportunities for U.S. minorities to challenge themselves to achieve excellence academically and professionally. Smith is the founding director and President of the Fund II Foundation, a charitable nonprofit organization serving the Black community through grants to preserve culture, protect the environment, nurture talent through education and liberate the human spirit by connecting the students of today with the tools to become the leaders of tomorrow.
As the Founder, Chairman and CEO of Vista Equity Partners, Smith has a vision for the future of the global digital economy that ensures diverse communities are not left behind. One of Smith’s strengths is his ability to find elegant solutions to complex problems. Smith credits this to the chemical engineering degree he earned at Cornell University. That school at Cornell is now named the Robert F. Smith School of Chemical and Biomolecular Engineering, in honor of his achievements. Smith, an Alpha Phi Alpha brother, recognized the proud history of Historically Black Colleges and Universities (HBCUs) and Minority Serving Institutions (MSIs) in the United States, whose graduates are business leaders, educators, top scientists and politicians. And, he saw a way to expand that legacy for more students.
Smith, at the Morehouse College Class of 2019 commencement address, enacted his idea of how to further the mission of MSIs by pledging $50 million to the Student Freedom Initiative. By reducing or eliminating the debt burden of graduates, the creative and generative potential of each student could be unlocked to empower communities.
The problem Smith wanted to help solve is the lack of intergenerational wealth in the Black community. Currently, 60% of African American wealth is consumed by the servicing of student loan debt. According to the Center for Responsible Lending, Black students with bachelor’s degrees owe approximately twice as much as their white classmates four years after graduation.
What is the Student Freedom Agreement?
Who Is Eligible for the Student Freedom Agreement?
To be eligible to receive funding from Student Freedom Initiative, a student’s school must be a participant in the income-contingent funding alternative component of Student Freedom Initiative’s program, and the student must meet all the following criteria immediately prior to the disbursement of funds (as determined and confirmed by student’s school):
(a) Completed a FAFSA or acceptable alternative state aid application that is accepted and approved by student’s school;
(b) A valid Social Security Number;
(c)Not an international student or foreign exchange student authorized
to enter the United States on a non-immigrant visa;
(d)Majority age or older;
(e)Junior or senior for the school year being funded;
(f)Enrolled full-time for the coming academic term (unless we grant an exception because student requires less than full-time enrollment to complete his/her bachelor’s degree in her/his final year of study);
(g)Working towards a degree in an approved STEM major; and
(h)Meeting satisfactory academic progress as defined by student’s school.
Please note: You may qualify for federal student loans. For additional information, contact your school’s financial aid office or the Department of Education at: StudentAid.gov