Student Freedom Initiative

Student Freedom Initiative is a single-purpose nonprofit organization that provides a catalyst for freedom in professional and life choices for students attending Minority Serving Institutions (MSIs) by increasing their social and economic mobility using a student-centric, evidence-based, holistic and collaborative approach. The 501(c)3 nonprofit organization takes a head-on approach to addressing the wealth gap in the U.S. that greatly affects the economic mobility of minority students.

With unique programming geared towards minority students and partnerships with MSIs across the country, students pursuing STEM careers are given a breath of fresh air when it comes to paying for an education. Student Freedom Initiative’s programs are focused on strategic outcomes that include:

Liberate students to make sound career decisions and life choices.
Increase the economic mobility for Students of Color through pursuit of STEM careers.
Provide more favorable terms and flexibility than other financial alternatives.
Enable MSI transformation, resilience, and increased competitiveness.
Provide transformative model for policy, researchers, and policy advocate.

History of Student Freedom Initiative

The vision for Student Freedom Initiative began with Robert F. Smith -- founder, chairman and CEO of Vista Equity Partners -- and his passion for helping minority students. In 2019, Smith paid off the student loan debt of the entire Morehouse College graduating class and that act sparked the idea for a program that could help minority students launch careers without crushing loan debt. As an African American, Smith understands the racial and economic barriers that minority students face and as a philanthropist, he wants to make a difference for future generations.

Smith teamed up with experts in the education and finance fields to create real life solutions to the crippling student debt held by many minority students. The result of this collaboration and brainstorming was Student Freedom Initiative of which Smith now serves as Chairman. Initial donations from Smith and the nonprofit organization Fund II Foundation totaled $100 million and helped launch Student Freedom Initiative in fall 2021.

Student Freedom Agreement: Alternative private student loans for student seeking STEM focused degrees. Post-graduation repayment contingent on what the students make after college, and repayment funds being funneled back through the program for future students, is something that we are proud to offer future students of Virginia State University.

Handling Everyday Life Problems for Students (HELPS): The HELPS program offers funding for eligible students experiencing immediate emergency need. This resource is available to full and part-time undergraduate students upon completed application.

Intern XL: InternXL delivers our students an intelligent platform that brings diversity, inclusion and efficiency to the internship hiring process.

Student Freedom Initiative

The Student Freedom Agreement is a private education loan that should be viewed as just a part of a student’s overall financial aid package. This loan is not intended to displace any other funding opportunities including federal grants, institutional aid, work-study, Direct Subsidized and Unsubsidized loans. Rather, this loan is intended to provide assistance to help cover remaining balances for educational-related expenses after all other forms of financial assistance have been considered. Under the Student Freedom Agreement, Student Freedom Initiative will provide necessary funds to students to cover a part of their eligible tuition expenses at Virginia State University.

Students who receive these funds enter into a “pay it forward” program in which they agree to make monthly payments in the future back to Student Freedom Initiative. These payments are determined by the amount of money the student makes post-graduation. Therefore, this creates an honorable cycle that’s self-sustaining for future generations of Students of Color.

Eligibility for the Student Freedom Agreement

Who can apply for the Student Freedom Agreement?

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 Virginia State University):

Completed a FAFSA or acceptable alternative state aid application that is accepted and approved by the student’s school;
A valid Social Security number;
Not an international student or foreign exchange student authorized to enter the United States on a non-immigrant visa;
Majority age or older;
Junior or Senior for the school year being funded;
Enrolled full-time for the coming academic term (unless granted an exception because the student requires less than full-time enrollment to complete his/her bachelor’s degree in her/his final year of study);
Working towards a degree in an approved STEM major (Biology, Mathematics, Computer Engineering, Computer Science, Manufacturing Engineering, Electrical and Electronics Engineering Technology, Information Logistics Technology and Chemistry.
Meeting satisfactory academic progress as defined by Virginia State University.

Prospective borrowers may qualify for Federal Student Aid (FSA) loans or other assistance from the FSA programs. Additionally, the terms and conditions of an FSA loan may be more favorable than the provisions of private education loans.

For additional information about Student Freedom Initiative and the Student Freedom Agreement, please contact VSU's Financial Aid office or check Student Freedom Initiative’s website for updates.

Student Freedom Initiative collaborates with participating schools, corporate partners and community-based organizations that provide students with a variety of career resources. These include specialized comprehensive support services to help students create career goals.

internXL

internXL is a dynamic internship platform that connects students to unique internship opportunities with corporations across the country. With a goal of bringing together precision, diversity, inclusion and efficiency to the hiring process of college students. The partnership between Student Freedom Initiative and internXL allows participating institutions to offer the internship platform to their qualified students. The platform is specifically designed to match students with Fortune 500 companies that fit their interests and are aligned with their career goals. In addition to this, students will receive valuable hands-on job experience all while growing their professional skills and network. To register, please visit internXL.

HELPS

The Handling Everyday Life Problems for Students (HELPS) Program provides grants to eligible students that help to support an emergency situation, without which continued persistence would be at moderate to high risk.

An eligible student:

is a full or part-time undergraduate student,
majoring in any area of academic study,
attends one of the participating SFI institutions, and
must submit an online application with the justification of the emergency.
An emergency is defined to be an unexpected, one-time expense, associated with the immediate risk to health, life, property, or student’s environment that requires urgent attention to prevent worsening of the situation or further instability of the student’s situation.

In addition to these programs, there are specific services including microgrants that are based on one-time unforeseen emergencies to help students in need. Also, summer immersion programs are offered along with mental health services, career and academic counseling.

For more information regarding student support services through Student Freedom Initiative, visit the website.

Transformation Project Resources

Partnership for Education Advancement Contact Us Urban Edge Network Student Freedom Initiative

Student Freedom Initiative

History of Student Freedom Initiative