Student Freedom Initiative

Prairie View A&M University is proud to offer its students access to Student Freedom Initiative. Student Freedom Initiative is a student-centered, evidence-based and holistic tax-exempt nonprofit organization dedicated to helping college students find freedom in professional and life choices. The program aims to serve as a catalyst to help students gain the confidence and the skills they need to be successful in their chosen careers and personal life.

While Student Freedom Initiative is intended for students attending Minority Serving Institutions, the initiative is first being offered to students at Historically Black Colleges and Universities (HBCUs) and launched in the fall of 2021. It features an income-contingent private educational loan for rising juniors and seniors majoring in Science, Technology, Engineering, and Mathematics (STEM) fields, targeted institutional capacity-building support, paid internships, and student support services like:

Student Freedom Initiative

“…Student Freedom Initiative arrives just in time. Our students, beset by myriad challenges that limit their choices and aspirations, need better options for financing their education. This Initiative and the commitment it represents from Robert F. Smith and others is the boost needed to encourage them to persist in their goals.”

– Ruth J. Simmons, President of Prairie View A&M University

Eligibility for the Student Freedom Loan Agreement

Student Freedom Fund (SFF), a subsidiary of SFI, offers a groundbreaking approach to funding student education: the Student Freedom Loan Agreement (SFLA). This private education loan is specifically designed for select STEM majors at HBCUs, other MSIs and TCUs.

Please visit SFI’s Partners page to see which STEM majors are eligible at Prairie View A&M University.

Students must meet the following application criteria:

  • Complete a free application for Federal Student Aid (FAFSA) or an acceptable state alternative
  • Have a valid social security number
  • Be a sophomore, junior or senior for the school year being funded
  • Be majority age or older
  • Be working towards a degree in an approved STEM major or an approved STEM certificate program (For students with non-eligible majors, SFLA funds can cover costs for those courses associated with eligible STEM certificates.)
  • Be enrolled at least half-time for the coming academic year (An exception is available if the student can complete their degree within one year with less than half-time coursework required for degree completion in the final year.)
  • Meet Satisfactory Academic Progress (SAP) as defined by the student’s school

International and foreign exchange students authorized to enter the U.S. on a non-immigrant visa are not eligible for the funding option.

Students must meet the following application criteria:

  • Have a valid Social Security Number (SSN)
  • Submit a school-approved free application for Federal Student Aid (FAFSA) (or acceptable state alternative)
  • Enroll full-time at a participating four-year college or university*
  • Meeting Satisfactory Academic Progress (SAP), as defined by your institution.

Please note that you are ineligible if you are in the United States with a non-immigrant visa.

*An exception is available if less than full-time coursework is required for degree completion in final year.

More About the SFLA

Students who choose to accept SFLA funding will commit to making fixed payments to the SFLA for a certain period of time. Unlike fixed debt obligations, the payment amounts may rise and fall with a participant’s earnings. All payments made to the initiative will be recycled back into the program to help the next generation of STEM students.

The SFLA offers up to $20,000 annually toward students’ academic endeavors. The SFLA stands out among other options because it allows students to apply without a co-signer or credit check.

The SFLA provides:

  • No origination fee
  • A low, fixed interest rate
  • Interest with no capitalization
  • No payments required during school
  • An option to defer 12 monthly payments (and pay $0 those months)
  • $0 payment when income is less than 300% of the Federal Poverty Level ($45,180 in 2024)

Debt forgiveness begins in the sixth year when income is below the income threshold.

The SFLA should be considered just one part of a student’s overall financial aid package. It is not intended to replace any state or institutional aid, any federal grants, work-study or Direct Subsidized and Unsubsidized loans. Instead, a SFLA is available to cover a student’s remaining cost of attendance after those other aid sources are considered, as a potential alternative to other private education loans and the Parent PLUS Loan.

To learn more about the SFLA and review the Application and Solicitation Disclosure, please visit SFI’s website.

While the SFLA may be beneficial to many HBCU students, it is not the best alternative for everyone. Students should consult with their financial aid counselor to learn more about the agreement and the features of other private educational student loans in order to make an informed decision that would be in their best interests.

Note: Prairie View A&M University does not endorse SFI’s SFLA as an alternative to Parent Plus and other private education loan products. Prairie View A&M University is not affiliated with SFI or Student Freedom Fund, LLC.

History of SFI

SFI was envisioned by philanthropist and entrepreneur Robert F. Smith, who is the Founder, Chairman and CEO of Vista Equity Partners. After making his famous commencement address and gift to eliminate the student debt of the 2019 graduating class of fellow HBCU Morehouse College, Smith dreamed of transforming the lives of more Black students. So, a team of experts who shared the same vision as Smith was tasked to find a solution that would serve more students. He challenged them to create a lasting program based on a “Pay It Forward” paradigm. In this program, students initially funded would later pay back into the program to support future students. This way, investors would not be able to profit from those who could least afford it.

However, the program that Smith envisioned would do more than merely alleviate the financial burdens of the students. It would also include student support services and assistance for modernizing the current HBCU infrastructure.

After much hard work, SFI was launched. The development and implementation of SFI programming was made possible through the support of organizations and individuals who lent their expertise, time and resources to create pathways to success for students. A full list of SFI donors can be found on the SFI’s website.

Fund II Foundation, of which Smith is the founding director and President, made the initial donation to SFI, a gift that totaled $50 million. Smith followed Fund II Foundation’s generosity, pledging another $50 million. Their donations allow SFI to support STEM sophomores, juniors and seniors per year, every year, for the entire future of the program.

For more information about SFI and student eligibility, visit SFI’s website.

Logo of Student Freedom Initiative, a nonprofit organization that offers aid to eligible HBCU students