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Student Freedom Initiative Launches Inaugural Program at HBCUs Across U.S.

Inspired by Robert F. Smith’s 2019 “Morehouse Gift,’ Initiative will provide STEM majors at 9 HBCUs a more equitable alternative to fund their education

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Inspired by Robert F. Smith's 2019 'Morehouse Gift,' the Student Freedom Initiative will provide stem majors at 9 HBCUs with a more equitable alternative to fund their education.

The Student Freedom Initiative (SFI), an organization that provides science, technology, engineering and mathematics (STEM) majors income-contingent funding in lieu of traditional college loans that have long wreaked havoc on their financial futures, launched on nine HBCU campuses across the country on September 7.

Inspired by the 2019 gift by Robert F. Smith to Morehouse College graduates that erased 100% of student loan debt for them and their parents, the Student Freedom Initiative was created by Smith to further alleviate the longstanding financial burdens Black students face, disproportionate to their white counterparts.

The inaugural list of institutions includes: Claflin University, Clark Atlanta University, Florida A&M University, Hampton University, Morehouse College, Prairie View A&M University, Tougaloo College, Tuskegee University, and Xavier University of Louisiana.

“Through the Student Freedom Initiative, we hope to give Black students access to the education they need to move forward in this economy without the burden of student loan debt stopping them from realizing their fullest potential,” said Smith who serves as chairman of the Student Freedom Initiative. “While our community continues to face inequities that too often bar young students of color from accessing quality higher education, the Student Freedom Initiative aims to empower our students with the tools they need to control their financial futures.”

On average, Black students who graduate with bachelor’s degrees accrue $7,400 more in debt than their white peers. This gap only widens across the gender divide, with Black women carrying roughly 20% more student debt than white women, owing an estimated $41,466 in undergraduate loans compared to the $33,851 white women owe.

To address the unequal financial burden faced by these students, the Student Freedom Initiative created its Student Freedom Agreement, an income-contingent funding agreement based on a ‘pay it forward’ concept, meaning payments are only made when the individual is working. SFI has begun dispersing Student Freedom Agreement funds to eligible junior and senior STEM majors attending one of its nine inaugural partner schools.

HBCU students have traditionally been more likely than non-HBCU students to turn to Parent PLUS or private loans for additional funding to cover remaining costs for their education. On average, 63% of students at HBCUs rely on Parent Plus loans. The resulting default rate is five times as high in the Black community when compared to their white counterparts, and the average debt is twice as high in the Black community as long as four years after graduation.

“We are taking a holistic approach to support and empower our students,” said Mark Brown, executive director of the Student Freedom Initiative. “Not only are we providing our students financing to pursue their education, but the Student Freedom Initiative is also providing them with career development opportunities established through partnerships with Fortune 100 companies. Eligible students receive paid internship opportunities during their college careers to prepare them for post-graduate life. We’re betting on them that given the right investment, these students will go out and do well.”

Additionally, with the help of tech partners including Cisco and AVC Technologies, the Student Freedom Initiative is visiting HBCU campuses throughout the 2021-22 academic year to provide free technology infrastructure upgrades. SFI and its partners will work directly with HBCUs to identify gaps between their existing infrastructure and the requirements identified by the Department of Education Federal Student Aid (FSA) program and install the necessary solutions to address these gaps and become cybersecure.

To date, over 22 HBCUs have signed agreements to achieve campus cyber security through infrastructure upgrades, with additional schools signing up daily.

Together with Cisco’s contribution of $150 million, the Student Freedom Initiative has received over $250 million in pledges, including a generous contribution from the Walmart Foundation as part of its first round of grants for The Walmart.org Center for Racial Equity, and support from the United Negro College Fund. In addition, the program has been acknowledged and supported by the Business Roundtable’s Racial Equity & Justice Subcommittee on Education.

About Student Freedom Initiative

The Student Freedom Initiative (SFI) is a 501(c)(3) nonprofit organization dedicated to ensuring freedom in professional and life choices for junior and senior students pursuing science, technology, engineering, and mathematics (STEM) degrees. Initially focused on Historically Black Colleges and Universities (HBCUs), SFI is a student-centered, evidence-based, and holistic initiative featuring four transformative components: (1) an income contingent alternative to fixed payment obligations used to finance college, (2) immersive work experiences through paid internships (3) executive mentoring, tutoring, and other student services and (4) mission-critical technology infrastructure upgrades at participating HBCUs. SFI collaborates with community-based organizations, businesses and governmental entities through public-private partnerships to make sustainable, systemic changes to support the entire HBCU ecosystem.

To learn more, visit StudentFreedomInitiative.org.

For more information, contact Sakita Holley at SFI@hos-pr.com

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Books

Oakland Mayor Reads to Children at Bookout Block Party at Marcus Books Store

Booths lined the street with arts and crafts, and children participated in hands-on art projects. A large display of books was on display and each child chose his/her free book to take home. Food and snacks were available, and free water was encouraged to keep all hydrated.

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(L.to R.) Cherysse Calhoun and Blanche Richardson of Marcus Books join Oakland Mayor Barbara Lee with Indya McGuffin and Bean Tupou of Storyland Collective inside the store on Sept. 12. Courtesy photo.

Floating bubbles greeted families on arrival at the Bookout Block Party held on Sat. Sept. 12 at 39th and MLK Blvd. in Oakland.

Sponsored by Marcus Books and Storyland Collective, a wonderland of activity for children stretched to Longfellow School while live music filled the air, courtesy of KWC Complex Jazz Group.

Booths lined the street with arts and crafts, and children participated in hands-on art projects. A large display of books was on display and each child chose his/her free book to take home. Food and snacks were available, and free water was encouraged to keep all hydrated.

A large area of turf was filled with huge bean bags for jumping, rolling, and sitting to listen as families crowded close to listen to Oakland Mayor Barbara Mayor Barbara Lee read a book out loud.

Of the numerous booths present were, “Claim Your Scholarship,” a program for Oakland Public School students and “VOLUNTEER NOW,” a program encouraging volunteers to help boost reading proficiency. Individuals sold their art and products. Free gifts were at many tables and a raffle was held.

The event with Marcus books culminated a summer-long program organized by Storyland Collective, a literacy arts organization bringing children’s ‘storytime,’ local authors, and art activities to Bay Area neighborhoods. Marcus Books is the oldest, independent Black-owned book store in the U.S., featuring books by and about Black people here and abroad.

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Community

Democratic Clubs Interview Candidates for Oakland School Board

OAKLAND POST — For the first time, the interviews were jointly sponsored by the John George Democratic Club, Wellstone Democratic Renewal Club, Oakland East Bay Democratic Club, Black Women Organized for Political Action (BWOPA), Niagara Democratic Club, Block by Block Organizing Network and Oakland African American Chamber of Commerce.

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(L-R) Sylvia Williams, Mike Hutchinson, Kathryn Camp

Local Democratic clubs and community organizations interviewed candidates running for Oakland school board in the November elections, including incumbents Jennifer Brouhard in District 2, Mike Hutchinson in District 4 and Valarie Bachelor in District 6.

For the first time, the interviews were jointly sponsored by the John George Democratic Club, Wellstone Democratic Renewal Club, Oakland East Bay Democratic Club, Black Women Organized for Political Action (BWOPA), Niagara Democratic Club, Block by Block Organizing Network and Oakland African American Chamber of Commerce.

The Democratic clubs interviewed only registered Democrats.

John George and Wellstone endorsed Brouhard and Bachelor. Neither endorsed Hutchinson.

In District 4, Wellstone ranked Sylvia Pfeiffer Williams first and Kathryn Camp second. John George ranked Camp first and Williams second.

Hutchinson, an Oakland native and Oakland public schools graduate, highlighted his record.

“I was in board leadership and chaired the Budget and Finance Committee,” he said. “We passed balanced budgets and paid off the state loan early, which allowed us to finally leave state receivership after 22 years.”

Hutchinson said the district faces a financial crisis requiring changes in board leadership and district policies.

“We need a different majority so we can get back on track, end school closures, and manage our resources better,” he said.

Williams taught adult education in Oakland for 18 years.

Williams said her philosophy “comes from the disability justice world, to center the needs of the most vulnerable. When we center the needs of the most vulnerable, we create environments, systems, and learning experiences in which everyone can thrive.”

Williams framed potential school closures as an equity issue.

“Are we thinking about closing schools up in the hills?” she asked. “Or are we thinking about closing schools where communities are in crisis right now?”

Camp, a Bay Area native and Oakland resident of 25 years, has a son in second grade.

“Our kids are only getting one shot at a great education, and I’m running to bring pragmatic, student-centered leadership that restores trust, builds responsibility, and delivers results for every child,” she said.

On her website, Camp pledged accountability and transparency. “As a proud OUSD parent, I know our schools need more than promises – they need fiscal responsibility, equity, and meaningful action guided by long-term strategy,” she said.

“That means protecting classrooms, supporting teachers, using resources wisely, and making decisions that reflect clear priorities and real accountability,” said Camp. “It also means bringing people together and providing the kind of steady leadership that can navigate complex systems, ask hard questions, and stay grounded in what matters most: student outcomes, thriving schools, and a district that works for the communities it serves.”

Wellstone’s Education Committee said it opposed Hutchinson because he frequently challenged the board majority and superintendent.

“He also claims that the teachers’ contract is illegal that a grand jury should be called. He is not endorsed by the teachers’ union; he has been disruptive and non-collaborative at meetings,” and he has been absent 26% of the time, the committee said.

“He claims that the teachers’ contract is illegal and that a grand jury should be called,” the committee said. “He takes individual credit for accomplishments, including paying the state loan, when in fact these changes came from the work of the entire board, or were the result of following through on policy.”

Next week: District 6 school board candidates.

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Business

Don’t Let scammers Crash Your School Year

OAKLAND POST — Buy from official and trusted retailers whenever possible, double check website URLs for misspellings or other red flags, and make sure the site uses https://. Be wary of deals that seem too good to be true as well. Avoid clicking links in unsolicited emails or text messages, including fake “missed delivery” notifications that often lead to fraudulent websites or malware.

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Photo courtesy of JPMorganChase

Today’s students and young adults are true digital natives, having grown up online, learning to navigate digital spaces as a normal part of daily life. As they transition to college, they turn to digital platforms and social media for everything from apartment hunting and job searches to shopping, banking and talking with friends.

That familiarity, however, can create a false sense of security, making younger adults just as much of a target for fraud and scams as older individuals. According to the FBI’s Internet Crime Report, Americans ages 20–29 reported more than $500 million to internet-crime losses in 2025.

As scammers become more sophisticated, including using AI, students need to be more vigilant than ever about fraud and scams. Understanding the most common ones can help you avoid becoming a victim.

Common Scams Targeting Students

Online shopping and marketplace scams

Whether you’re furnishing a dorm, moving into an apartment or buying textbooks, online deals and secondhand marketplaces can help you save money while also creating more opportunities for scammers.

Buy from official and trusted retailers whenever possible, double check website URLs for misspellings or other red flags, and make sure the site uses https://. Be wary of deals that seem too good to be true as well. Avoid clicking links in unsolicited emails or text messages, including fake “missed delivery” notifications that often lead to fraudulent websites or malware.

Before making a purchase, read seller reviews and ratings. If you’re buying locally, meet in a safe public place and inspect the item before paying.

Job scams

As students return to school this fall, some may be looking for part-time jobs or internships. Scammers target students with fake jobs offering high salaries, flexible schedules or jobs you can do from your residence hall, apartment or home.

If you receive a job offer by text, email, or direct message – be cautious, especially if you never applied to work at that company. Always use well-known job boards and then apply directly through the company’s official website. 

Also, if an employer asks you to pay upfront for training, equipment, background checks or application fees, it may be a sign of a scam. Legitimate companies will never charge you to get a job. They also won’t send you money and then ask you to return a portion of it.

Rental and housing scams

Scammers know student housing is in high demand. They’ll often post fake apartment listings or copy legitimate ones to trick potential renters into sending money for a deposit.

Rental prices that seem unusually low should raise a red flag. Use a reverse image search to see if photos of the property appear on a different website or in a different location. Research unfamiliar property managers or housing websites before sending money, and avoid paying deposits through wire transfers, gift cards or peer-to-peer payment apps.

Double check the address, read online reviews of the property management company and schedule a tour of the house or apartment before signing a lease or sending a deposit. That way, you’ll know the listing and location is real. 

The influence of AI

Thanks to artificial intelligence, scammers can now create cloned voices and deepfake videos, along with fraudulent emails, text messages and even websites and apps that look real. These AI tools let scammers impersonate family members, employers, banks, law enforcement, delivery companies and trusted brands to get you to send money or share personal information.

How to protect yourself

No matter what type of scam you encounter, a few simple habits can go a long way toward reducing your risk:

  • Limit the personal information you share online and make social media profiles private whenever possible. This can help reduce the information scammers can use to target you, guess your security questions or attempt to access your financial accounts.
  • When you’re making a payment, use more protected methods, such as credit and debit cards, which generally offer stronger consumer protections than wire transfers, gift cards or peer-to-peer payment apps. Treat peer-to-peer payments, such as Zelle, like cash — once the money is sent, it’s often difficult to recover.
  • Scammers can spoof phone numbers to make calls look like they’re coming from your bank, law enforcement or another trusted organization. Don’t automatically trust your caller ID – if you get a call demanding immediate action or claiming there’s a problem with your account, hang up and call back directly using a verified phone number. Banks will never call and ask you for account information, tell you to transfer money to ‘protect’ it or pressure you to act immediately.
  • Don’t click links or download attachments from unexpected emails or text messages and avoid accessing your financial accounts or making online purchases on public Wi-Fi, where savvy cybercriminals can gain access to your login credentials. 
  • Perhaps most importantly, slow down. Back-to-school season brings a flurry of financial decisions and scammers know students are looking for deals. They often create a false sense of urgency to try to pressure people into making quick decisions. Taking a few extra minutes to verify information can make the difference.

The bottom line

Whether you’re shopping for school supplies, searching for a job or signing your first lease if you’re entering college, your status as a student can make you a prime target for scammers.

Stay skeptical of unsolicited offers, verify before you pay or share personal information, and slow down when something feels rushed. Those simple habits can help protect your money, your identity and your peace of mind throughout the school year from scams and fraud.

For more financial health tips, visit chase.com/scamproof.

For informational/educational purposes only: Views and strategies described in this article or provided via links may not be appropriate for everyone and are not intended as specific advice/recommendation for any business. Information has been obtained from sources believed to be reliable, but JPMorgan Chase & Co. or its affiliates and/or subsidiaries do not warrant its completeness or accuracy. The material is not intended to provide legal, tax, or financial advice or to indicate the availability or suitability of any JPMorgan Chase Bank, N.A. product or service. You should carefully consider your needs and objectives before making any decisions and consult the appropriate professional(s). Outlooks and past performance are not guarantees of future results. JPMorgan Chase & Co. and its affiliates are not responsible for, and do not provide or endorse third party products, services, or other content.

Deposit products provided by JPMorgan Chase Bank, N.A. Member FDIC. Equal Opportunity Lender.

 © 2026 JPMorgan Chase & Co.

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