Our Goal
To reduce the student loan debt burden by raising $100 million for eligible students attending Historically Black Colleges and Universities (HBCUs).
Coming Soon 2026
Atlanta GA
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THE Crisis
$1,800,000,000,000
Total Student Loan Debt
THE SOLUTION
A benefit concert
showcasing iconic performances by America's top Black entertainers.
The Challenges
The wealth gap is exacerbated by
$52,000
Average Cost of Higher Education (Private School)
$39,000
Average Cost of Higher Education (Public School)
200%
Growth in College Costs (2000 - 2021)
43.6 m
Total Borrowers
$39,000
Average Student Loan Debt (All)
$52,000
Average Student Loan Debt (Black)
100% of Profits
Provided to Student Freedom Fund to Reduce Student Loan Debt Burden.
Press
AWARE FEST in the News
Nonprofit and entertainment company team up to address student debt
Atlanta Business Chronicle
August 15, 2025
Student Freedom Initiative has partnered with entertainment giant Live Nation Urban to launch HBCU AWARE FEST in Atlanta next spring. The collaboration aims to raise $100 million over five years to combat student loan debt affecting HBCU students nationwide.
In speaking about this partnership with the Atlanta Business Chronicle, Student Freedom Initiative president and CEO Keith B. Shoates said, “We wanted to have a partner that similarly was mission-aligned…we wanted to make sure we can create what I'll call a movement.”
Billionaire Who Paid Off $34M in Morehouse Student Loans Plans to Help Others
Capital B Atlanta
August 11, 2025
In a moment that instantly went viral in 2019, Morehouse commencement speaker Robert F. Smith surprised graduates at the 135th ceremony with the news that he would be paying off all their student loans. Now, a partnership between his Student Freedom Initiative, Live Nation Urban and the city of Atlanta will help even more HBCU students affordably attend college.
The new program, HBCU Aware Fest 2026, will launch at Atlanta’s State Farm Arena next spring, and will help raise funds for SFI’s Student Freedom Loan Agreements through programming focused on music, culture, and education.
Black Billionaire Ready to Tackle HBCU Student Debt - Again
HBCU Gameday
August 6, 2025
In a bold effort to tackle one of the most pressing economic challenges facing Black America, the Student Freedom Initiative (SFI)—founded by billionaire businessman Robert F. Smith, Chairman and CEO of Vista Equity Partners—has partnered with Live Nation Urban to launch HBCU AWARE FEST 2026.
This first-of-its-kind cultural and educational movement will debut in Spring 2026 with a weeklong activation in Atlanta, led by Mayor Andre Dickens. The goal: raise $100 million to support students at Historically Black Colleges and Universities (HBCUs), Minority Serving Institutions, and Tribal Colleges and Universities.
Student Freedom Initiative Enlists Live Nation Urban to Accelerate Its Mission to Dismantle the Student Loan Debt Crisis for Students Attending Historically Black Colleges and Universities
Press Release
August 5, 2025
In a groundbreaking alliance that unites the power of music, the promise of education, and the pulse of Black culture, Student Freedom Initiative is proud to announce a bold new partnership with Live Nation Urban aimed at addressing one of the most urgent challenges facing Black America: the student loan debt crisis.
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