It’s no secret that the impact of student loan debt can be crippling to the futures of many in the nation.
In most cases, the damage is even worse for Black students who attend HBCUs because of the increased financial need to fund their educational experience due to the racial wealth gap and racist financial practices that have thwarted Black people since this country’s inception.
The weight of bad student loan agreements can shift the trajectory of not only one individual’s life but also the possibility of generational wealth for an entire family.
The Student Freedom Initiative is one of the organizations trying to correct this problem by providing social and economic mobility for STEM studying juniors and seniors at HBCU for years to come.
Black billionaire Robert F. Smith, the founder and chairman of the Student Freedom Initiative, has been an advocate for freeing students from student loans for a while. He made major news in 2019 after spending approximately $38 million to pay off the loan debt of around 400 students who graduated from Morehouse College that year.
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SOURCE: Black America Web, Donovan Dooley
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