History of the Student Freedom Initiative

History of Student Freedom Initiative

Student Freedom Initiative was the product of many thoughtful and brilliant minds. However, it was Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners, who first envisioned the need for the program. After making his famous commencement speech to the 2019 graduating class of Morehouse College, in which he pledged to pay off their student loans, Smith wanted to do more. He consulted with a team of like-minded experts about a program that could reach more students.

Smith challenged the team to create a “Pay it Forward” program, in which students would pay into the program to support the next generation of participants rather than allowing investors to profit from those least able to afford it. However, the program would go beyond offering an income-contingent alternative to traditional financial aid. Smith wanted it to also include student support services and assistance for modernizing the current MSI/HBCU infrastructure.

In 2021, Student Freedom Initiative was launched as Smith envisioned, thanks, in part, to the hard work of the Student Freedom Initiative team and presidents of the first participating HBCUs. The Fund II Foundation, of which Smith is founding director and President, provided the program’s initial donation, totaling $50 million. Smith matched the gift, bringing the total donated to $100 million. Smith now sits as Chairman of Student Freedom Initiative.

Yet, Fund II Foundation and Robert F. Smith are not the only benefactors to Student Freedom Initiative. In May 2021, Cisco announced a $150 million donation to Student Freedom Initiative. A list of additional organizations that have offered their support, whether financial or expertise, to Student Freedom Initiative can be found on the Partners page.

To keep up-to-date on all aspects of Student Freedom Initiative, visit the Student Freedom Initiative website.