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:

  • Tutoring
  • Mentoring
  • Programming on resume writing
  • Interview and test-taking techniques training

The 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 Student Freedom Initiative

While aspects of Student Freedom Initiative are available to all HBCU students, the initiative’s income-contingent private educational loan, called the Student Freedom Agreement, will initially only be available to eligible students. Rising juniors and seniors, as determined by credit hour, majoring in an approved STEM program may apply for the Student Freedom Agreement. The Prairie View A&M University administration, in conjunction with Student Freedom Initiative, has approved the following majors for participation in the Initiative’s Student Freedom Agreement:

  • Computer Science
  • Chemical Engineering
  • Civil Engineering
  • Computer Engineering
  • Electrical Engineering
  • Mechanical Engineering
  • Biology
  • Mathematics
  • Chemistry
  • Physics
  • Civil Engineering

Prairie View A&M University does not endorse Student Freedom Initiative’s Income Contingent Alternative to Parent Plus and other private education loans product. Prairie View A&M University is not affiliated with Student Freedom Initiative.

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.

The Student Freedom Agreement

Students who are eligible for the income-contingent private educational loan can apply to receive a portion of their higher education funded by the program beginning with the 2021 fall semester. Those that choose to accept the funding will enter into a Student Freedom Agreement. With the Student Freedom Agreement, students will commit to making fixed payments to the Student Freedom Agreement for a certain period of time but no more than 20 years. 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 Student Freedom Agreement aims to be an income-contingent private educational loan alternative to Parent PLUS loans and other private education student loans. However, it is not designed to replace state or institutional aid, federal grants, work-study funds or Direct Subsidized and Unsubsidized loans. Instead, it can be factored in to cover up to $20,000 per academic year of the remaining cost of attendance, as it is just one portion of a student’s total financial aid package toward a college education.

While the Student Freedom Agreement 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.

To learn more about the components of Student Freedom Initiative please visit Student Freedom Initiative’s website. Prairie View A & M University does not endorse Student Freedom Initiative’s Income Contingent Alternative to Parent Plus and other private education loans product. Prairie View A & M University is not affiliated with Student Freedom Initiative.

History of the Initiative

Student Freedom Initiative 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 donation to the 2019 graduating class of fellow HBCU Morehouse College, Smith dreamed of transforming the lives of more African American students. So, a team of experts who share 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, the team, with the assistance of HBCU presidents, several like-minded organizations and field experts, developed Student Freedom Initiative. While there have been many partners involved with the implementation of the program, some of the most substantially involved include:

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

For more information about Student Freedom Initiative and student eligibility, visit the initiative’s website.

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