The Student Freedom Initiative (SFI) has introduced that networking large Cisco will give $150 million so as to support traditionally Black schools and universities (HBCUs). The help will take the type of $100 million in networking, safety, and collaboration applied sciences, together with ongoing technical assist with assist from cloud safety companies supplier American Digital Cloud (AVC) Applied sciences, so as to facilitate developments to HBCU know-how infrastructure and cybersecurity techniques.
The remaining $50 million will act as an anchor funding to assist the Student Freedom Initiative over the following 4 years. That $50 million funding will enable for the financing of the faculty educations of 500 HBCU college students yearly.
The Student Freedom Initiative is a nonprofit group that goals to assist college students attending Minority Serving Establishments (MSIs). The SFI offers income-contingent funding for college students enrolled at HBCUs and different establishments to assist cowl training prices. The SFI was initially funded with a $50 million reward from billionaire philanthropist and investor, Robert F. Smith, who is the founder, chairman, and CEO of Vista Fairness Companions. In 2019, Smith made headlines around the globe when he introduced he was paying off all the coed loans of the whole graduating class of Morehouse School in Atlanta.
Cisco’s anchor funding of $50 million will assist the Student Freedom Initiative transfer nearer in direction of its objective of forming a $450 million endowment that may assist the training bills of 4,500 college students in perpetuity.
“We’re thrilled to welcome Cisco and AVC Applied sciences as strategic companions for SFI in addressing the digital divide confronted by our HBCUs,” Robert F. Smith mentioned, asserting Cisco’s support to the SFI. “Their experience and generosity will be sure that HBCUs are safe and strong establishments that empower Black college students. And Cisco’s added monetary dedication to college students, making them the primary anchor company accomplice of SFI, will assist liberate college students from crushing debt and permit them to make their very own life selections. Their reward to SFI’s endowment is a call-to-action to different company leaders to be part of our trigger.”.