The Student Freedom Initiative (SFI) is partnering with Cisco and AVC Technologies, with Cisco committing $100 million in technologies. Both AVC and Cisco will provide ongoing technical support.
AVC will work with HBCUs to find infrastructure gaps and address them, with Cisco providing the necessary solutions to be installed by AVC.
Cisco will invest $50 million for SFI’s income contingent alternative to traditional college loans to HBCU students.
“Collectively SFI, Cisco and AVC Technology will bring meaningful, sustained, and measurable opportunities to advance the HBCU ecosystem,” said Keith B. Shoates, chief operating officer at SFI. “Provided the opportunity to participate via the InternX.org platform in the modernization efforts at their respective HBCUs, these students will obtain practical hands-on experience, training, and certifications in the technologies of the future; and we’ll build a qualified pipeline of diverse talent from HBCUs. This is just the beginning, as we continue to seek partners to join us in providing evidence-based, holistic, student centered support and creating a self-sustaining financial product that provides an alternative to traditional student loans.”