New Financial Aid Opportunity: Student Freedom Agreement
What is Student Freedom Agreement?
- Income-contingent, private education loan that is designed to cover a student’s remaining cost of attendance after other aid sources (state or institutional aid, federal grants, work-study, or direct subsidized/unsubsidized loans) are considered.
- “Freedom” is a keyword because applicants do not need to depend on parents to qualify and because this loan is designed to liberate students to make their own career/life choices and increase a student’s independence through social and economic mobility.
- Qualifying students get up to $20K annually for school.
Who is eligible for this loan?
- Full time, rising juniors and seniors pursuing STEM majors at any Minority Serving Institution (MSI). (Why only STEM? Because statistics show that a STEM education can serve as a pathway to freedom for students.)
- All racial backgrounds. (This loan originally focused on Historically Black Colleges and Universities (HBCUs) but has been expanded to any student attending an MSI.)
- Must have a valid social security number.
How do I learn more or apply?
- Visit financialaid.ucr.edu/freedom for next steps.