About Student Freedom Initiative
A single purpose nonprofit organization, Student Freedom Initiative 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 ultimate goal of Student Freedom Initiative is to act as a catalyst to help students attain the skills and confidence they will need after graduation to successfully choose their personal and professional pathways.
Key Components of Student Freedom Initiative
Income-Contingent Funding
An alternative to Parent Plus and private education loans for eligible students
Academic Tutoring
Comprehensive academic support to ensure student success
Mentoring
Personalized guidance for academic and professional development
Paid Internships
Real-world experience with industry partners through InternX
Institutional Support
Targeted capacity-building support for participating institutions
Who Is Eligible to Participate?
All Tougaloo College students will have access to the educational and career support resources, including internships, tutoring and mentoring, as well as capacity-building support, provided by Student Freedom Initiative. However, Student Freedom Initiative's income-contingent funding alternative, called the Student Freedom Agreement, will initially be limited to certain STEM majors.
Approved STEM Majors:
- Biology
- Chemistry
- Computer Science
- Mathematics
- Physics
Eligibility Requirements:
- Valid Social Security Number (SSN)
- School approved FAFSA or acceptable alternative state aid application
- Rising junior or senior (by credit hours)
- Enrolled full-time for the coming academic term
- Majoring in approved STEM degree-seeking program
- Meeting Satisfactory Academic Progress (SAP), as defined by your institution
Note: Students are ineligible if they are in the United States with a non-immigrant visa. All students can refer to Student Freedom Initiative's website for the latest information.
How Does the Student Freedom Agreement Work?
Eligible Tougaloo College STEM students can apply for funding through the Student Freedom Agreement. Tougaloo College does not endorse Student Freedom Initiative's Income Contingent Alternative to Parent Plus and other private education loans product. Tougaloo College is not affiliated with Student Freedom Initiative.
Payment Structure
Graduates who benefited from the program while in college will make income-contingent payments for a certain period. The amount of the payments will vary depending on the participant's earnings and may rise and fall throughout the payment period.
Maximum Terms
Students will only be required to make payments for a maximum of 20 years, even if they have not paid the amount borrowed, and they can elect to defer up to 12 monthly payments at any given time for any reason.
Pay It Forward
All payments made will be recycled back into Student Freedom Initiative, and the funds will be used to finance the Student Freedom Agreements of future students.
Funding Amount
A Student Freedom Agreement is a funding option for up to $20,000 per academic year of the remaining cost of attendance at the institution.
Alternative to Private Loans
It is being offered as a funding alternative to other private education student loans and Parent PLUS loans, not to replace federal grants or institutional aid.
No Impact on Other Aid
Most importantly, the availability of a Student Freedom Agreement will not impact a student's eligibility for any institutional aid, such as need-based or academic grants and scholarships from Tougaloo College.
History Behind Student Freedom Initiative
Student Freedom Initiative was created to address the disproportionate student loan debt plaguing African American students and students of other minority backgrounds. It was envisioned by Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners, after his commencement address at Morehouse College in 2019, committing to pay off the student debt of the graduating class.
After the graduation ceremony, Smith challenged a team of extraordinary individuals to develop a program that could serve more than just Morehouse students but rather students of numerous college institutions. The program would be based on a "Pay It Forward" paradigm, in which participants would be able to help finance the education of the next generation of students.
Initial Funding
Student Freedom Initiative has raised significant funding, including a $50 million gift from Fund II Foundation and a $50 million personal gift from Robert F. Smith himself. These gifts are intended to support 500 STEM juniors and seniors per year for the entire future of the program.
Development Partners
Get Started Today
Apply for Student Freedom Agreement
STEM students can apply for income-contingent funding as an alternative to traditional student loans.
Learn More & ApplyFind Paid Internships
Access paid internship opportunities with industry partners through our InternX platform.
Explore InternshipsLearn More About Robert F. Smith
Discover more about the visionary founder behind Student Freedom Initiative.
Read BiographyReady to Embrace Your Freedom?
Take control of your educational journey and professional future. Student Freedom Initiative is here to provide the support, funding, and opportunities you need to succeed in STEM fields while maintaining your freedom to choose your path.