Take Control of Your Future Student Freedom Loan Agreement Say goodbye to the stress and anxiety of traditional student loans and hello to a brighter, more affordable future. Apply Now Your browser doesn’t support HTML5 video. Ground breaking Approach Our subsidiary, Student Freedom Fund (SFF) offers a groundbreaking approach to funding your education, specifically designed for STEM majors at Minority Serving Institutions (MSIs). Recognizing the racial gap in student loan debt that contributes to long-term disparities and exacerbates the racial wealth gap, SFF’s loan product called the Student Freedom Loan Agreement (SFLA) offers a more equitable financial solution with lower interest rates than Parent PLUS loans. This approach aims to alleviate the burdens faced by STEM students at MSIs, providing a sustainable path to finance their education. SFLA stands out for its accessibility, allowing you to apply without a co-signer or credit check, and offers up to $40,000 annually toward your academic endeavors. SFLA empowers you to focus on what truly matters: excelling in your studies and building a career path in STEM, free from the typical anxieties of student loans. Take advantage of this opportunity to chart a course toward a future where your educational aspirations and financial wellbeing harmoniously align. The approach not only provides a benefit to current students, but it also provides an equivalent benefit to future students based on payments from past SFLA recipients. To learn more, please see our Application and Solicitation Disclosure. Starting with Fall 2024 academic year, those non-STEM major students will be able to apply the SFLA to cover courses taught at participating MSIs leading to a recognized STEM certification. STEM-Focused Support Tailored specifically for STEM majors at Minority Serving Institutions, this program provides the necessary backing to propel you into a future of innovation and discovery. Financial Stress Reduction Experience the flexibility of a repayment plan that lowers your required payment to $0 when your income is less than 300% of the Federal Poverty Level, ensuring your payments are always manageable. Barrier-Free Access to Education Apply without the need for a co-signer or credit check, breaking down traditional barriers to higher education and opening doors to a world of learning and opportunity. Endowment Without Walls Student Freedom Fund provides an evergreen source of accessible and low-cost funds for students, offering an alternative to Parent PLUS and private student loans. Significant Educational Investment Receive up to $20,000 annually to finance your education, a substantial contribution that significantly reduces the financial challenges of pursuing higher education. Comprehensive Support If you’re eligible for the SFLA you are likely eligible for our other programs. Get access to paid-internships, assistance with a one-time financial emergency, and more. Pay It Forward Your post graduation repayment provides an equivalent benefit for future students attending MSIs. How it works Payments made easy. Customized to your needs. Get up to $20,000 annually for school without a co-signer or credit check. Eligibility requirements apply, including being enrolled at least half-time at a participating Student Freedom Initiative partner school and meeting academic progress standards. Our online application process is simple and straightforward, and our team of experts is always available to help you through the process. NMLS ID 24711270 – click on link to verify license status: Consumer Access (nmlsconsumeraccess.org) see if you qualify To see if your school is a participating SFLA school, please select from the drop-down menu below and begin the application process. Click here to confirm your major is eligible. Select a School Alabama A&M University Alabama State University Albany State University Benedict College Bennett College Bowie State University California State University-Long Beach Central State University Clark Atlanta University Claflin University CUNY Hunter College Dillard University Fisk University Florida Agricultural and Mechanical University Hampton University Jackson State University Lane College Lincoln University Miles College Morehouse College Morris College Norfolk State University Prairie View A & M University Saint Augustine’s University Stillman College Tougaloo College Tuskegee University University of California-Riverside University of Maryland Eastern Shore Virginia State University Virginia Union University Voorhees College West Virginia State University Wilberforce University Xavier University of Louisiana Apply Now WHO IS ELIGIBLE? Academic Year: Sophomores and above at participating MSIs Eligible Programs: Eligible STEM majors and approved certificate programs. Enrollment Status: Half Time or Greater Academic Status: Undergraduate GPA Requirement: Meeting Satisfactory Academic Progress (as defined by university) Other Requirements: Valid SSN, Complete FAFSA Please note: International & Foreign Exchange Students are not eligible for this funding option FREQUENTLY ASKED QUESTIONS What is the Student Freedom Loan Agreement? Student Freedom Loan Agreement is a private education loan that 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, or any federal grants, work-study, or Direct Subsidized and Unsubsidized loans. Instead, a Student Freedom Loan Agreement 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 Parent PLUS loans. To learn more, please see our Application and Solicitation Disclosure. You can also review the Student Freedom Loan Agreement itself here. Who can apply for Student Freedom Loan Agreement? To be eligible to receive funding from us, a student’s school must be a participant in the income-contingent funding alternative component of Student Freedom Initiative’s program, and the student must meet all the following criteria immediately prior to the disbursement of funds (as determined and confirmed by student’s school): (a) Completed a FAFSA or acceptable alternative state aid application that is accepted and approved by student’s school; (b) A valid Social Security Number; (c) Not an international student or foreign exchange student authorized to enter the United States on a non-immigrant visa; (d) Majority age or older; (e) Should show sophomore, Junior or senior for the school year being funded; (f) Should show Enrolled at least half-time for the coming academic term (unless we grant an exception because student requires less than half-time enrollment to complete his/her bachelor’s degree in her/his final year of study); (g) Working towards a degree in an approved STEM major or an approved STEM certificate program; and (h) Meeting satisfactory academic progress as defined by student’s school. Please note: You may qualify for federal student loans. For additional information, contact your school’s financial aid office or the Department of Education at: StudentAid.gov Can parents or guardians apply for the Student Freedom Loan Agreement for their student? No, as a parent or guardian you cannot legally enter into a binding contractual agreement on the behalf of the student, however, a parent or guardian may advise the student of this funding opportunity for their consideration. Where can eligible students apply for the Student Freedom Loan Agreement? Students can apply for the Student Freedom Loan Agreement through the Student Application Portal Are Freshman students eligible to apply for a Student Freedom Loan Agreement? Sophomore, juniors, and seniors who are pursuing approved STEM degrees or STEM certificate programs at participating schools and who otherwise meet Student Freedom Fund’s eligibility criteria can receive funding from Student Freedom Fund. Why is funding for the Student Freedom Loan Agreement only available to STEM majors? The eligible majors currently include certain majors associated with select Science, Technology, Engineering, and Math (or “STEM”) fields. anchored in the National Science Foundation data and identified by the participating institution. For a list of majors identified by each of the participating institutions, please see Participating Schools. The Student Freedom Loan Agreement launched in fall 2021 with an initial focus on STEM majors because statistics show that a STEM education can serve as a pathway to freedom for students — opening the door to the widest array of opportunities in the 21st century economy. According to Science News, the growth rate for STEM versus non-STEM fields is 2 times. According to National Center for Educational Statistics (NCES), Status and Trends in the education of Racial and Ethnic Groups, there will be 3.5 Million STEM jobs in the US to fill by 2025. National Association of Manufacturers and Deloitte reported the average difference in first year salary between STEM and non-STEM is $24,100 for college graduates. What are the steps in completing the Student Freedom Loan Agreement application? Students can apply for the Student Freedom Loan Agreement by clicking on the Apply Here links, which will take you to the student application portal hosted by our originations partner, CampusDoor. Students will start by providing information about themselves, their school, and their program of study. Students will create an account with CampusDoor. Students will review a series of important disclosures and choose their funding amount. Students will upload documents as necessary to verify their identity and eligibility (e.g. driver’s license, school transcript, etc.). Then the students’ schools will certify their eligibility to participate. How long does it take to find out if a student is qualified for funding through a Student Freedom Loan Agreement? Once a student has completed their application and signed a Student Freedom Loan Agreement the final step is school certification to confirm they are enrolled and their application is accurate. Students should contact their Financial Aid Office for status updates on their Student Freedom Loan Agreement application. How will students be notified that they have been approved for funding under the Student Freedom Loan Agreement? Students will receive communications from Student Freedom Initiative throughout the application process, including notification of funding under the Student Freedom Loan Agreement. While the schedule will vary based on the participating institution’s processes, one should expect a confirmation of funding within three weeks of submission. I’ve signed up for the Student Freedom Loan Agreement, how long until I get my money? Funding will become available during the school’s normal disbursement process at your institutions, in the term in which you have applied. Funding will only be made available to students who have been certified as eligible by your financial aid office. How much money can I get? Students can receive up to $20,000 per academic year. There is a cap on total funding a student can receive under a Student Freedom Loan Agreement, which is currently $40,000 total. You may qualify for federal student loans. For additional information, contact your school’s financial aid office or the Department of Education at: StudentAid.gov Can I spend the money on anything? Your school will be authorized to withdraw from your disbursed funds school costs charged directly by your school (if any) and to issue any leftover funds to you. Once the leftover funds are issued to you, you can use them only to pay for school costs. School costs include only the following: tuition and fees charged by your school, housing costs, food costs, transportation and commuting expenses, costs for schoolbooks, supplies and equipment (including computer hardware and software), health insurance and medical expenses, dependent care expenses, ordinary personal expenses, loan fees, and other miscellaneous costs that you incur to pursue your education at your school. Eligible students can use funds to cover a prior balance. I have questions that were not answered by this page. How can I learn more? Students with questions about their application or funding should contact originations customer support at 771-210-5656 or answers@campusdoor.com. Students with questions about their funded Student Freedom Loan Agreement should contact servicing customer support at 855-722-0375 or support@studentfreedominitiative.org. Students can also contact their Financial Aid Office with additional questions. Can I use Student Freedom Loan Agreement funds to cover a prior balance? Students who are eligible for a Student Freedom Loan Agreement can use SFLA funds to cover a prior balance. IMPACT 16 Participating MSIs/TCUs 475 SFLAs $6.3M SFLAs Disbursed Updated as of Q2, 2024 PARTICIPATING SCHOOLS Eligible Majors Alabama A&M University Chemistry Computer and Information Science and Engineering Engineering Geosciences Life Sciences Materials Research Physics and Astronomy Biology Civil Engineering Computer Science Construction Management Electrical Engineering Mathematics Mechanical Engineering Physics Eligible Majors Alabama State University Biology Biomedical Engineering Chemistry Computer Information Systems Computer Science Mathematics Biology (Marine) Forensic Chemistry Eligible Majors Albany State University Biology Chemistry Computer Science Mathematics Nursing Eligible Majors Benedict College Biology Chemistry Mathematics Mathematics (Teaching) Mathematics (Applied) Physics Physics-Engineering Computer Science Computer Information Science Computer Engineering Environmental Engineering Public Health Environmental Health Science Electrical Engineering Chemistry – Premedical Electrical Engineering Technology Physical Sciences Transportation and Highway Engineering Eligible Majors Bennett College Biology Chemistry Computer Science Mathematics Eligible Majors Bowie State University Bioinformatics Biology Chemistry Computer Science Computer Technology Mathematics Applied & Computational Mathematics Data Science Cyber Operations Engineering Mathematics Education Nursing Software Engineering Eligible Majors Central State University Biology Chemistry Computer Science Environmental Engineering Industrial Technology Manufacturing Engineering Mathematics Water Resources Management Eligible Majors Claflin University Computer Science Computer Engineering Biology Biochemistry Bioinformatics Biotechnology Applied Math (Clemson) Mathematics Mathematics (Applied Mathematics Track) Chemistry Registered Nursing Nursing Administration Nursing Research Clinical Nursing Environmental Science Eligible Majors Clark Atlanta University Computer and Information Sys. Cybersecurity Dual Deg Engineer- Comp Sci Engineering Computer Science Biology Dual Degree-Biology Dual Deg Engineering – Math Mathematics Chemistry Dual Deg Engineer – Chemistry Industrial Chemistry Dual Deg Engineer – Physics Physics Eligible Majors Denmark Technical College Certificate in Applied Science in Cybersecurity Eligible Majors Dillard University Biology Chemistry Computer Science Mathematics Physics Health Sciences Nursing Public Health Mathematics & Actuarial Science Eligible Majors Fisk University Biochemistry & Molecular Biology Biology Chemistry Computer Science Mathematics Physics Bioinformatics Data Science Eligible Majors Florida A&M University Comp Info Science Comp Info Systems Computer Science Information Technology Pre-Computer Info Systems Biomedical Engineering Chemical Engineering Civil Engineering / Environmental Engineering Computer Engineering Electrical Engineering Industrial Engineering Mechanical Engineering Biological Systems Engineering Biology Molecular Cellular Biology Pre-Medicine Actuarial Science Mathematical Sciences Mathematics Biochemistry Chemistry Pre-Medicine/Dentistry Chemistry Physics Architecture Biological and Agricultural System Engineering Construction Engineering Technology Environmental Science Industrial and Manufacturing Engineering Nursing Pre-Engineering Eligible Majors Hampton University Biochemistry Biology Chemical Engineering Chemistry Computer Engineering Computer Information Systems Computer Science Electrical Engineering Marine and Environmental Science Mathematics Physics Flight Education (Professional Pilot) Aviation Management – Airport Administration Aviation Management – Air Traffic Control Communication Disorders Sciences and Services Pharmacy, Pharmaceutical Sciences, and Administration Registered Nursing Nursing Administration Nursing Research Clinical Nursing Eligible Majors Hunter College of City University of New York Physics Adolescence Education: Biology BA/MA Adolescence Education: Physics BA/MA Biology Chemistry and Adolescence Education: Chemistry BA/MA Chemistry Computer Science Geology/Earth Science Mathematics Mathematics (Applied) Biological Sciences Nursing Pharmacy Physical Sciences Statistics Eligible Majors Huston-Tillotson University Biology Chemistry Computer Information Systems Computer Science Mathematics Mechanical Engineering Eligible Majors Jackson State University Meteorology Biology Chemistry Civil Engineering Computer Engineering Computer Science Earth System Science Electrical Engineering Mathematics Physics Statistics Biology-Pre Dentistry Biology-Pre Medicine Biology-Pre Optometry Biology-Pre Pharmacy Biology-Pre Physical Therapy Biomedical Engineering Chemistry-American Chemical Society Curriculum Certified (ACS) Chemistry-Biomedical Sciences Chemistry-Pre Med, Dent, Opt, Vet Health Care Administration Physics-Alternate Career: Medicine Health, Physical Education and Recreation: Therapeutic Recreation Industrial Technology Eligible Majors Lane College Biology Chemistry Computer Science Mathematics Physics Eligible Majors Lincoln University (PA) Biology Chemistry Civil Engineering Computer Information Systems Mathematics Nursing Physics Eligible Majors Livingstone College Biology Computer Information Systems Mathematics Eligible Majors Miles College Biology Chemistry Computer and Information Sciences Mathematics Environmental Science Applied Physics Eligible Majors Morehouse College Computer Science Software Engineering Applied Physics General Science Biology Mathematics Chemistry Physics Pre-Engineering Eligible Majors Morris College Biology Cybersecurity Mathematics Biology Secondary Education Eligible Majors Norfolk State University Computer and Information Sciences Information Technology Cybersecurity Electrical and Electronics Engineering Optical Engineering Biology Mathematics Chemistry Physics Materials Science Materials Science and Engineering Health and Medical Administrative Services Registered Nursing Nursing Administration Nursing Research Clinical Nursing Computer Engineering Computer Science Construction Engineering Technology Engineering Mechanical Engineering Traditional BSN Eligible Majors Prairie View A&M University Computer Science Chemical Engineering Civil Engineering Computer Engineering Electrical Engineering Mechanical Engineering Biology Mathematics Chemistry Physics Construction Science Nursing Eligible Majors St. Augustine’s University Biology Chemistry Computer Information Systems Engineering Mathematics Eligible Majors Stillman College Biology Chemistry Mathematics Physics Eligible Majors Texas Southern University Aviation Science Biology Chemistry-Biomedical Sciences Chemistry Civil Engineering Civil Engineering Technology Computer Engineering Computer Science Electrical and Computer Engineering Electrical Engineering Environmental Health Science Environmental Toxicology Industrial Technology Mathematics Pharmaceutical Sciences Pharmacy Physics Transdisciplinary Information Technology Systems & Services Electrical and Electronics Engineering Eligible Majors Tougaloo College Computer Science Biology Mathematics Chemistry Physics Eligible Majors Tuskegee University Computer Science and Information Technology Computer Science-Information Systems Computer Science Aerospace Science Engineering Chemical Engineering Electrical Engineering Computer Engineering Biology Mathematics Chemistry Physics Environmental, Natural Resource and Plant Sciences Mechanical Engineering Nursing Eligible Majors University of the District of Columbia Biology Biomedical Engineering Chemistry Civil Engineering Computer Science Electrical Engineering Environmental Science Information Technology Mathematics Mechanical Engineering Physics Architecture Eligible Majors University of Maryland Eastern Shore Computer Science Engineering Biology Biochemistry Environmental Science Marine Science Mathematics Chemistry Engineering Technology Aviation Science Pharmaceutical Sciences Pharmacy Physical Therapy Physician Assistant Rehabilitation Counseling Rural Health Disparities & Social Inequities Civil Engineering Technology Human Ecology or Marine Ecology Eligible Majors Virginia State University Biology Chemistry Computer Engineering Computer Science Electrical and Electronics Engineering Information Technology Manufacturing Engineering Mathematics Mechanical Engineering Nursing Eligible Majors Virginia Union University Computer Information Systems Biology Mathematics Chemistry Health Sciences Physics-Engineering Business Analytics Eligible Majors Voorhees College Biology Computer Science/Cybersecurity Environmental Science Eligible Majors West Virginia State University Biology Chemistry Computer Science Electrical Engineering Mechanical Engineering Mathematics Nursing Mathematics & Computer Science Eligible Majors Wilberforce University Biology Chemistry Computer and Information Sciences Computer Science Electrical Engineering Mechanical Engineering Computer Engineering Nuclear Engineering Eligible Majors Xavier University of Louisiana Computer Information Systems Computer Science Dual Degree Biomedical ENGR Dual Degree Chemical ENGR Dual Degree Civil ENGR Dual Degree Computer ENGR Dual Degree Electrical ENGR Dual Degree Environmental ENGR Dual Degree Mechanical ENGR Biology Pre-med Biology Biochemistry Bioinformatics Neuroscience Statistics Statistics and Biostatistics Accel Mathematics Chemistry Chemistry Acs Chemistry Pre-Pharmacy Chemistry Pre-Professional Dual Deg Chemistry Pre-Pharm Physics Medical Laboratory Science Public Health Sciences Speech Pathology Data Science Mechatronics, Robotics, and Automation Engineering