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Student Freedom Initiative
STUDENT FREEDOM INITIATIVE
Morehouse College students looking for an alternative to traditional loan options and an enhanced educational experience may find that through Student Freedom Initiative (SFI). SFI is a nonprofit organization that helps students from Historically Black Colleges and Universities (HBCUs), other Minority Serving Institutions (MSIs) and Tribal Colleges and Universities (TCUs) achieve their life goals and professional aspirations, while also increasing their social and economic mobility. It uses a student-centric, evidence-based, holistic and collaborative approach.
SFI aims to help HBCU, MSI and TCU students escape the crushing burden of unmanageable student loan debt, which often plagues many students from communities that lack access to opportunities and resources. In addition, SFI serves as a catalyst for freedom in higher education and life choices by providing students with tools and resources that enhance their educational experiences and pave the way for better career paths. Some of SFI’s programs include:
- Student Freedom Loan Agreement
- Student Investment Program (SIP)
- Handling Everyday Life Problems For Students (HELPS) Microgrant Program
- Internships through Fund II Foundation’s internXL
- MSI-Community Living Space Initiative (LiSI)
- Cybersecurity, Broadband and Solar Initiatives
WHO IS ELIGIBLE TO PARTICIPATE IN THE STUDENT FREEDOM LOAN AGREEMENT??
The Student Freedom Initiative (SFI) provides access to the Student Freedom Loan Agreement (SFLA), an income-contingent private education funding alternative offered through the Student Freedom Fund (SFF). In addition to funding, selected Student Freedom Scholars receive access to wraparound support services, including financial wellness coaching, emergency assistance opportunities, and completion grants.
To be eligible for consideration, a student must meet the following criteria:
- Complete a Free Application for Federal Student Aid (FAFSA) or an acceptable state alternative.
- Have a valid Social Security Number (SSN).
- Be classified as a junior or senior for the academic year, as determined by the participating institution.
- Be enrolled in a high-growth, high-income, market-driven major.
- Be meeting Satisfactory Academic Progress (SAP) requirements as defined by the institution.
- Maintain a minimum cumulative GPA of 3.0.
- Be 18 years of age or older.
- Attend one of the 10 eligible participating HBCUs, including Morehouse College.
- Successfully complete the required pre-qualification/pre-screening process, including submission of an academic transcript, before initiating the formal application.
- While no formal credit score is required, applicants must not have adverse judgments identified during the review process.
Additional Program Information
- Available Funding: Eligible students may receive up to $20,000 per academic year, not to exceed their remaining cost of attendance after all other financial aid and resources have been applied.
- Interest Rate: Offered at a rate designed to be more affordable than the federal Parent PLUS Loan.
- Fees: There are no origination fees associated with the Student Freedom Loan Agreement.
- Award Availability: For the 2026–2027 academic year, a maximum of 100 Student Freedom Scholar awards will be available across the 10 participating HBCUs.
Ineligible Students
The following students are not eligible to participate:
- International students and foreign exchange students authorized to enter the United States on a non-immigrant visa.
- Students who do not meet the minimum GPA, SAP, academic classification, or major requirements.
- Students attending institutions that are not among the participating HBCUs. complete list of approved STEM majors.
WHAT IS THE HISTORY OF SFI?
Morehouse College has a special connection with SFI. SFI grew out of the vision of Robert F. Smith, the Founder, Chairman and CEO of Vista Equity Partners (Vista), to expand student opportunity beyond his transformative gift to the Morehouse College graduating class of 2019. View Smith’s speech and gift announcement at the 135th Commencement at Morehouse College.
Immediately following his gift to Morehouse College’s graduates, Smith challenged a team of dedicated individuals to develop a solution scaled to serve more students, who have historically been disproportionately affected by student loan debt. Smith inspired the group to find a way to create a lasting program based on a “Pay It Forward” paradigm, under which current participants provide funding for future students. Funds would be provided to an initial set of students, and amounts received back from them would be used to support future generations of students, instead of allowing investors to profit from those least able to afford it. He also charged the team to go beyond merely alleviating the financial burdens on these students and develop a program that included holistic student support services and assistance for modernizing MSI/HBCU/TCU infrastructures.
The team met the challenge, and SFI was born. There were several partners in the development of SFI. For a full list of donors, visit SFI’s Donors page.
Following in the tradition of his 2019 gift to Morehouse College graduates, Smith also personally pledged $50 million to SFI, which is intended to allow SFI to support 500 students per year, every year, for the entire future of the program. This gift matched the $50 million gift provided by Fund II Foundation, of which Smith is the founding director and President.