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Speaker 1: If you're about to make a change in your life

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Speaker 1: and you feel uncomfortable, that's the best feeling you.

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Speaker 2: Can have.

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Speaker 1: Because for the first time in your life, you're making

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Speaker 1: a decision that's going to be best for you and

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Speaker 1: not what somebody told you to do. And that's when

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Speaker 1: all bets are off. Welcome to Money Making Conversation Master Class.

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Speaker 1: I'm your host, Rashaan McDonald. Our theme is there's no

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Speaker 1: perfect time to start following your dreams. I recognize that

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Speaker 1: we all have different definitions of success. For you and

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Speaker 1: maybe decide to your aham, it's time to stop reading

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Speaker 1: other people's success stories to start living your own cap winning.

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Speaker 1: My guess is the executive director of the Student Freedom

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Speaker 1: Initiative and this title gets bigger as we go along.

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Speaker 1: Please welcome the Money Making Conversation Master Class. The President,

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Speaker 1: Chief Executive Officer of Student Freedom Initiative, Doctor Mark Brown.

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Speaker 1: How are you doing, shirt?

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Speaker 2: I'm doing great with you on how are you doing?

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Speaker 1: First of all, I've been trying to get you for

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Speaker 1: a while, sir. If some people need your conversations on my.

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Speaker 2: Airways, well, we're boring, happy to share.

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Speaker 1: Well, let's talk about you. Let's give us some background

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Speaker 1: on your doctor, Mark Brown.

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Speaker 2: All right, So I am, as you said right now,

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Speaker 2: the president's CEO of Student Free am Initiation, which is

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Speaker 2: a nonprofit based out of Washington that focuses on HBCUs.

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Speaker 2: But my journey started at at HBCU. I'm a product

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Speaker 2: of Tuskegee Institute turned Tuskegee University down in Alabama, where

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Speaker 2: I went through the ROTC program and would go on

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Speaker 2: to serve thirty two years in the Air Force, retiring

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Speaker 2: as a Major General. After that, I was appointed by

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Speaker 2: the Secretary of Education to be the Chief Operating Officer

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Speaker 2: of Department of Education, which is what controls all the

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Speaker 2: free application for federal student a for student law and portfolio,

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Speaker 2: those kinds of things. It was there that I met

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Speaker 2: Robert F. Smith, who is the chairman and CEO of

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Speaker 2: Vista Equity but also the chairman of our board Student

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Speaker 2: Freedom Initiative, and I look forward to talking to you

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Speaker 2: about that and what we've been doing.

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Speaker 1: Well, tell us a little bit more about him, you know,

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Speaker 1: I've read about him and he did some an amazing

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Speaker 1: academic contribution to Morehouse a couple of years ago. Can

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Speaker 1: you talk about that.

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Speaker 2: That's exactly right, that's exactly right. So he was a

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Speaker 2: graduation speaker at Morehouse College, and Robert during that speech,

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Speaker 2: I think surprised a lot of folks. He promptly announced

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Speaker 2: that he was going to put a little bit of

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Speaker 2: a little bit of help to those students that were

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Speaker 2: about to graduate by paying off all of their student loans.

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Speaker 2: When he did that, there were about four hundred young

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Speaker 2: men in the class of twenty nineteen. It was about

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Speaker 2: a thirty eight million dollar check. But he did it all.

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Speaker 2: He paid all of their student loans, their parent plus loans.

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Speaker 2: There was no student freedom initiative at the time. As

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Speaker 2: I said, I was over the Department of Education. We

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Speaker 2: had a one point seven trillion dollars student loan portfolio.

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Speaker 2: About one third of that was bad debt, delinquent defaulted

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Speaker 2: overrepresented by people of color. Robert pull the Morehouse College

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Speaker 2: students out of that group, paid their loans, and he

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Speaker 2: continued to mentor that class of twenty nineteen to day.

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Speaker 1: Now, what was that dollar amount again? What was that

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Speaker 1: dollar amount?

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Speaker 2: Thirty about thirty eight million?

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Speaker 1: Yes, sir, just get you know added up right now.

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Speaker 1: I always if you had it wrong, I'm gonna have

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Speaker 1: to correct you because you know, because I'm gonna just

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Speaker 1: tell you a little bit of background about HBCUs. You know,

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Speaker 1: you know, you can have academic success, but if you

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Speaker 1: owe money, you can't walk. You can't walk.

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Speaker 2: Yeah, that's right.

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Speaker 1: And I know that in some of these debts are

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Speaker 1: like very very it could be like one hundred dollars,

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Speaker 1: five hundred dollars, they could be that low, you know,

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Speaker 1: but these students are struggling and they need these debts

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Speaker 1: paid off. And so the fact that he made that moment,

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Speaker 1: it did change a lot of lives. Because these students

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Speaker 1: on that twenty and eighteen graduating class it was twenty nineteen.

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Speaker 1: He changed their lives. And what we need is more

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Speaker 1: of that happening. Because what's happening, and you can speak

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Speaker 1: on this, doctor Mark Brown, is that because of DEI,

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Speaker 1: especially with HBCUs, are on their attack. Correct.

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Speaker 2: Oh, absolutely, absolutely. While we know that the facts show

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Speaker 2: that HBCUs have contributed more doctors, more military officers, more veterinarians,

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Speaker 2: more lawyers of color to the nation than all of

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Speaker 2: the other schools that exist to do those same kinds

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Speaker 2: of things. So they have done more than carry their

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Speaker 2: weight as an entity and they've done so in most

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Speaker 2: cases with less resources. Robert saw that.

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Speaker 1: Yeah, you know, I would like to, you know, throw

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Speaker 1: out my information to Dr Mark Brown, sev the dentists

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Speaker 1: and doctors in the medical field are bl who are

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Speaker 1: black com from HBCUs. Of the school teachers who are

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Speaker 1: black come hbc come from HPCC HBCUs. Forty percent of

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Speaker 1: the members of Congress come from who are black come

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Speaker 1: from HBCUs. Thirty three percent of the STEM graduates who

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Speaker 1: are black come from HBCUs. You know, seventy percent of

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Speaker 1: the judges who are black come from hpc US. So,

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Speaker 1: like I said, I know when you come on this show,

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Speaker 1: I didn't graduate from an HBCU, but I'm an advocate

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Speaker 1: of HBCU. So when I bring a doctor Mark Brown

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Speaker 1: on the show, you know, that's why I was trying

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Speaker 1: to hunt him down because he didn't know who I was.

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Speaker 1: He didn't know he had an advocate here. He know

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Speaker 1: he had a bullhorn, and that bullhorn is important. So

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Speaker 1: the information he's telling us on the show today gets out.

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Speaker 2: That's right, that's right, and you you are so right

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Speaker 2: now all those statistics that you just called out, isn't

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Speaker 2: that a that's a national treasure. That's a national treasure.

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Speaker 2: We would not want to lose the ability of these

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Speaker 2: schools to be able to do this. And that has

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Speaker 2: a lot to do with why Robert founded the Student

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Speaker 2: Freedom Initiative. He didn't just stop at Morehouse. His vision

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Speaker 2: was far big, far greater than that. He said, no,

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Speaker 2: we have to do something for all of our HBCUs

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Speaker 2: so that when a student leaves Cool ready to take

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Speaker 2: off with that new degree in their hand, that they

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Speaker 2: are being held down by crushing debt. I'll give you

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Speaker 2: an example, you know, Let's say that Let's say that

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Speaker 2: one student goes to Tugaloo College, another student goes to

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Speaker 2: Brown University. One student has to get a parent plus

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Speaker 2: loan four years in a row to close the cost

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Speaker 2: of their cause. The other student gets an endowed scholarship

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Speaker 2: from the endowment of let's say it's Brown University. Well,

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Speaker 2: we added up the endowments of all of our HBCUs

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Speaker 2: and we compared it him to the smallest endowment at

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Speaker 2: Ivy League school, and the numbers are significantly different. Right

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Speaker 2: it would if we added up all of the you

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Speaker 2: wouldn't get two point one billion. And if you added

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Speaker 2: up just one endowment in an Ivory League school, you

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Speaker 2: could get that much. So these students could be equally smart,

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Speaker 2: They could be equally sharp on their academics, they could

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Speaker 2: both be chemical engineers. One graduates and invest their money

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Speaker 2: and they grow well the other graduates, and they spend

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Speaker 2: a good percentage twenty thirty forty percent of their money

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Speaker 2: servicing the debt they had to take on to get

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Speaker 2: out of college. That creates what we all called the

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Speaker 2: wealth gap in America. The wealth gap in America starts

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Speaker 2: right there and has nothing to do with talent, because

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Speaker 2: both of these students were equally talented. It had to

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Speaker 2: go with the position of where they started from. And

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Speaker 2: so to get to that wealth gap, what we're saying

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Speaker 2: is we want to reduce the amount of debt that

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Speaker 2: that student has to pay coming out of college, and

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Speaker 2: we offer programs to do that. And that's that's the

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Speaker 2: whole purpose really.

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Speaker 1: Because those endowments are the key change. You know, the

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Speaker 1: information is out there. You know some stuff, you can google, somethings,

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Speaker 1: you do research. For instance, when he was talking about endowment,

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Speaker 1: we don't even have to go to Ivy League, we

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Speaker 1: don't have to go there. Let's just choose the University

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Speaker 1: of Nebraska. We're not university of the football power, maybe

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Speaker 1: a basketball power. You know, their endowment at the University

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Speaker 1: of Nebraska is one point seven billion dollars. That's right,

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Speaker 1: that's the endowment. That's the Howard University. Howard University has

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Speaker 1: the largest endowment seven hundred million.

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Speaker 2: That's right. And if that's the if that's the greatest

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Speaker 2: endowment amongst HBCUs, where do you think the rest of

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Speaker 2: those one hundred and one fault? Yeah, their numbers are

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Speaker 2: significantly lower. We have to build up their endowments. We

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Speaker 2: have a plan for that. Let me tell you this

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Speaker 2: really quick plan. Part of it.

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Speaker 1: No, take your time, Brown, you're my show, Okay, take

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Speaker 1: your time. Don't have to do anything quick. On this show,

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Speaker 1: we were talking about uplifting young people, educating parents, and

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Speaker 1: letting other people who are lums, letting them know the

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Speaker 1: tide is turned learning.

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Speaker 2: That's right, that's right. So what we say is for

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Speaker 2: a STEM students Science Technology, Engineering, mathematics student, or a

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Speaker 2: student getting a STEM certification in some other major, if

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Speaker 2: that student is making satisfactory academic progress and they're in

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Speaker 2: their rising junior senior year, then we say don't take

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Speaker 2: the parent plus law. We'll give you up to twenty

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Speaker 2: thousand dollars in your junior year and up to twenty

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Speaker 2: thousand dollars in your senior year for valid academic costs

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Speaker 2: in what we call an income contingent agreement. And here's

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Speaker 2: how this thing works. First of all, we don't require

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Speaker 2: your parents to be indebted to do it, because we

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Speaker 2: believe that that's a problem. My parents are at their

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Speaker 2: home buying stage and they don't need these large debts

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Speaker 2: on their on their credit records. So what we say is,

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Speaker 2: if you take an income contingent agreement, we will fund

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Speaker 2: it based on the fact that we believe in the

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Speaker 2: future you're going to be successful and you don't have

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Speaker 2: to be indebted at the moment with your parents. So

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Speaker 2: the way that works is you take up to twenty

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Speaker 2: thousand dollars if you're a junior senior in one of

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Speaker 2: these categories, and when you graduate, if you decide to

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Speaker 2: go into public service, like you're going to be a

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Speaker 2: teacher or you're going to be a policeman or something

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Speaker 2: like that. If you decide to do one of these

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Speaker 2: jobs and you're not making more than three hundred percent

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Speaker 2: of the federal poverty level, which would be about forty

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Speaker 2: eight to fifty thousand dollars if we use today's numbers.

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Speaker 2: Then you don't pay us back during that period. If

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Speaker 2: you decide that you're going to leave Tuskegee and go

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Speaker 2: to law school at Howard or go to law school

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Speaker 2: at Cornell, you don't pay us back while you're in

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Speaker 2: that law school. Let's say that you decide to go

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Speaker 2: to DuPont. You're going to make ninety thousand dollars a year.

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Speaker 2: We're going to be two point five percent of your

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Speaker 2: income for every ten thousand you took out. So if

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Speaker 2: it's if you took out ten thousand, it'll be two

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Speaker 2: point five percent of income. But you don't pay us back.

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Speaker 2: We're a nonprofit. You pay into what we call the

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Speaker 2: Student Freedom Find. We grow that Student Freedom Find through philanthropy,

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Speaker 2: access to low interest capital, and it reaches the point

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Speaker 2: of about five hundred million dollars and then it revolves

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Speaker 2: around and funds itself by payments coming back and by philanthropy.

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Speaker 2: And what we tell all of the schools that are

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Speaker 2: a part of our organization. We have sixty three schools

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Speaker 2: in our organization today. What we tell them, is you

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Speaker 2: use that fund as your collective endowment, your endowment without walls,

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Speaker 2: and you don't send those students back to the parent

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Speaker 2: plus loans system. You send them to this fund, and

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Speaker 2: therefore we fund ourselves. Does that make sense? We begin

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Speaker 2: we build our own collective endowment, which allows us to

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Speaker 2: keep students out of what we believe is a debt

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Speaker 2: trap loans like the parent plus loan, and there's some

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Speaker 2: commercial private loans that do the same thing and put

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Speaker 2: them in one where if they do pay it back,

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Speaker 2: they're paying it back into their own endowment.

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Speaker 1: Well, I think that, I think I hear it is

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Speaker 1: really clear. And this is what schools, especially HBCUs have

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Speaker 1: been you know, complaining about, you know, graduates investing back

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Speaker 1: into schools and helping build the endowment. And so what

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Speaker 1: you're saying, if I'm here is Gregor, We're gonna help

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Speaker 1: you get through school, okay, if you qualify, and then

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Speaker 1: when you but we don't want the money back. The

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Speaker 1: nonprofit don't want the money back. We want you to

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Speaker 1: take that money because now you're successful, as you pay

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Speaker 1: it back, we want you to pay it back in

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Speaker 1: the endowment. And that becomes a pay it forward opportunities,

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Speaker 1: because that's what that's what's really hurting HBCUs because of

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Speaker 1: the fact that all these individuals graduate. They may be

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Speaker 1: and I'm not saying anything negative to anybody, but I'm

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Speaker 1: just talking about the facts of why endowment opportunities aren't

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Speaker 1: growing at various HBCUs. When I say that, the one

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Speaker 1: may call Howard the most prestigious college and most well

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Speaker 1: known HBCU out there, and they're only at seven hundred

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Speaker 1: million as an endowment, we have a problem.

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Speaker 2: We have a problem. It's it's an inequity and it's

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Speaker 2: a gap, and it leads to an income gap as

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Speaker 2: well because of how you have to pay back these loans.

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Speaker 2: So everything that we do we do through an economic

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Speaker 2: leans economic lens. I'll give you I'll give you another example.

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Speaker 2: Most of our hbcuses, as you know, I've heard you

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Speaker 2: cite the history here. Most a lot of them are

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Speaker 2: land grant universities, right. They came around eighteen eighty one.

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Speaker 2: They were given land, right, and this was everybody wanted

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Speaker 2: them to have land because they wanted they wanted segregation.

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Speaker 2: They didn't want them going to college with others. So

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Speaker 2: they were given lots of land. Our ancestors built these schools.

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Speaker 2: They now have lots of land. In fact, they are

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Speaker 2: what I would call in many cases land rich and

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Speaker 2: cash poor. But they have challenges with infrastructure, buildings maintenance

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Speaker 2: because of the things that are old. And do they

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Speaker 2: take on long term debt to repair those things making

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Speaker 2: themselves still attractive to students or what do they do?

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Speaker 3: We have a.

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Speaker 2: Program with a company called Steinbridge that we could talk about.

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Speaker 1: Now, OK, let's hold that thought for the break. I'm

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Speaker 1: gonna go to the break. I want to bring that

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Speaker 1: back because I still want to get more clarity. Let

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Speaker 1: everybody know how that program works, the payback program, because

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Speaker 1: they really need to hear that. Because also you have

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Speaker 1: another nice program if you get your job in the

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Speaker 1: underserved community. Because he didn't bring that up. When we

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Speaker 1: come back, you're gonna hear that's another outstanding program. They're

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Speaker 1: doing it right at the Student Freedom Initiative. Don't go

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Speaker 1: nowhere talking to doctor Mark Brown. You're listening to the host,

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Speaker 1: Rashawn McDonald.

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Speaker 3: We'll be right back with more Money Making Conversations Masterclass

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Speaker 3: with Rashawn McDonald. Welcome back to the Money Making Conversations

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Speaker 3: Masterclass hosted by Rashawn McDonald.

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Speaker 1: Welcome back to Money Making Conversation Masterclass. I'm interviewing the

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Speaker 1: president and chief and taking the officer of Student Freedom Initiative,

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Speaker 1: doctor Mark Brown. Now doctor Mark Brown. As we were,

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Speaker 1: as we were closing that the interviews, you're about to

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Speaker 1: bring up the Steinbridge. But before we go into detail there,

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Speaker 1: it also is about uh if students who take jobs

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Speaker 1: and underserved community, underserved communities. There's also a benefit that

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Speaker 1: you guys provide as well.

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Speaker 2: Correct, that's correct. But if a if a student decides

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Speaker 2: that they want to teach chemistry, Let's say they decided

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Speaker 2: they wanted to teach chemistry, and what we would call

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Speaker 2: like a Title I school in a program of a

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Speaker 2: school of low income students, and their and their teacher

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Speaker 2: salary only reaches a certain level if they have a

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Speaker 2: a income contingent agreement from us, they don't pay it

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Speaker 2: during that period of time. They don't pay it back.

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Speaker 2: In other words, we'll like and if they stayed there

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Speaker 2: long enough, it would end up being just eliminated altogether.

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Speaker 2: But while they are there and while their income is

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Speaker 2: at that level, they are not required to pay us.

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Speaker 2: And and and the reason being is we understand, right,

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Speaker 2: we understand that that's a that is a public service

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Speaker 2: where it's for the greater good and the person at

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Speaker 2: the time is not in the position to make those payments.

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Speaker 2: And that's why it's income contention. In other words, we

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Speaker 2: are we are we are valuing the service that they're

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Speaker 2: going to go during that time and not strapping them

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Speaker 2: without additional debt, which is.

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Speaker 1: Really important because of the fact that you getting a

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Speaker 1: person who's giving back by serving the community that normally

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Speaker 1: doesn't get talent like them who have co academic success

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Speaker 1: in these communities. And if you don't, if we don't

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Speaker 1: straighten up our communities ourselves, then there won't be a

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Speaker 1: community to fix us right now.

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Speaker 2: And and we know the value of teachers for example,

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Speaker 2: we know the value of the color in front of

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Speaker 2: these communities that are talented. Uh. And it makes it

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Speaker 2: makes service sense for the name SHO. It makes perfect

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Speaker 2: sense for everybody. And I want to cent advise and

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Speaker 2: go to go do.

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Speaker 1: Those and I want to bring up a little, little

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Speaker 1: little levity, little uplift a different world. The nbc HO

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Speaker 1: is doing HBCU tour. They were recently on the campus

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Speaker 1: of Clark I think they kicked it off on the

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Speaker 1: campus of Clark Atlanta University.

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Speaker 2: Uh.

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Speaker 1: Student Fund Initiative is tied to that.

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Speaker 2: Correct, that's right. We're parted with them as well as

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Speaker 2: Cisco and others where we are uh bringing back and

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Speaker 2: depending on your your time frame, many people were introduced

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Speaker 2: to HBCU life through It's a Different World. Uh. Many

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Speaker 2: people saw this life for the first time. UH. And

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Speaker 2: now while we want to encourage enrollment to go up,

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Speaker 2: we want to encourage philanthropy to go up. We want

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Speaker 2: to encourage investment to go up. Because of that. Uh,

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Speaker 2: we're we're on a tour with the characters, the original

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Speaker 2: characters on a different world and they are business.

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Speaker 1: I'm a Jasmine guy. You're talking about Darryl Bell, that's

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Speaker 1: my boy. You talk a cadeen. I know, I know

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Speaker 1: they zoomed in. It'sen bad at the last at the session,

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Speaker 1: it's all your favorites are going to be there. It's

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Speaker 1: really was. I went to it. It was packed. It

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Speaker 1: was packed, so a lot of love. There's a lot

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Speaker 1: of love. And so I know they have an event

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Speaker 1: coming up next month on the campus of Howard University.

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Speaker 1: So if you're in the area, I know, I got

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Speaker 1: a lot of listeners in the DC area. A different

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Speaker 1: world tour will be HBCU tour will be on the

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Speaker 1: campus of Howard University.

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Speaker 2: Uh.

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Speaker 1: It's being funded an additional asset that you guys are

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Speaker 1: bringing to the table by the Student Fund Initiative, Freedom

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Speaker 1: Fund Initiative, and so and so when we look at

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Speaker 1: all these things that you guys are trying to do,

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Speaker 1: what is thevision before we get to Steinbridge? What is

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Speaker 1: thevision that.

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Speaker 2: Can I just add to you that just so your

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Speaker 2: viewers will know. It's April ninth. Okay, April Howard, April

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Speaker 2: ninth at Howard and in the fall we'll be down

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Speaker 2: in Montgomery doing it with Alabama State and Tuskegee as well.

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Speaker 1: Okay, so yeah, you know you had to get down

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Speaker 1: to tuske you know, the CEO and president. You know

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Speaker 1: you've been thrown out at Tuskegee if the two didn't

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Speaker 1: come down. That problem was the first one book we

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Speaker 1: got to go down to TUSKEI I got all that

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Speaker 1: other I got Howard, I got Clark, but you got

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Speaker 1: to make it down to my scow and.

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Speaker 2: I do want to make sure I say that Cisco

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Speaker 2: and Wells Fargo are all are all combining with us

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Speaker 2: as well as Student Preme Initiative. We are all partners

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Speaker 2: and trying to bring this to our HBCU campus and

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Speaker 2: re awakening that spirit and that that spirit and experience

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Speaker 2: that we all love so much that you can find

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Speaker 2: uniquely on an AHC.

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Speaker 1: You know, one of one of the driving things that

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Speaker 1: when I think about HBCUs is and one of the

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Speaker 1: things that where I'm advocated because I have a special

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Speaker 1: gift I feel in marketing and branding and and I

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Speaker 1: always feel that, you know, I've used it to build

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Speaker 1: a lot of careers and sold a lot of products

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Speaker 1: for Fortune five in the companies, and that's one of

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Speaker 1: my missions, you know, to take my gifts and and

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Speaker 1: and and and allow individuals like you a platform like

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Speaker 1: this was a very honest, open, and a highly successful

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Speaker 1: platform where you can like come on here. And so

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Speaker 1: just always know, doctor Brown, this is your home, this

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Speaker 1: is your voice. This is an advocacy I broadcast on

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Speaker 1: an HBCU campus, and so it's it's a place where

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Speaker 1: you can grow your message.

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Speaker 2: Well, we appreciate that we need, we need our voice

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Speaker 2: to get out there, and we appreciate platforms like yours

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Speaker 2: where we're allowed to speak freely about these matters that

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Speaker 2: are so important to us, and we believe to.

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Speaker 1: Everyone, Well, you're one of the things that has always

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Speaker 1: been a talk is about new housing around HBCU campuses.

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Speaker 1: And let's talk about now we're going to slide over

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Speaker 1: to the Steinbridge group tell us about that.

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Speaker 2: So, as I was saying earlier, if we took a survey,

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Speaker 2: did a study of about fifty eight HBCU presidents, and

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Speaker 2: one of the questions that we ask those presidents what's

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Speaker 2: your number one concern? And more times than not they

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Speaker 2: said infrastructure aging, infrastructure facilities, in other words, bringing their

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Speaker 2: beautiful campuses up to par with others. And the challenge

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Speaker 2: is to do that, sometimes you have to take on

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Speaker 2: long term debt as a university, which is not good

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Speaker 2: for the university. So this vision that we're talking about

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Speaker 2: with Steinbridge is what we would call kind of impact investing.

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Speaker 2: So if you're in and I'll use Virginia Union as

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Speaker 2: our first example, so they own property outside of the

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Speaker 2: actual campus property, they own property, and they also have

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Speaker 2: a housing shortage. Their ability to recruit premier faculty and

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Speaker 2: folks like that who want to live where they work,

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Speaker 2: and this is an Richmond area. It's really dependent on

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Speaker 2: affordable housing, and we know that affordable housing is a

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Speaker 2: challenge across the country. So Steinbridge provides the capital to

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Speaker 2: build the affordable housing and the university then leases the

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Speaker 2: land to Steinbridge. So what has happened, that's what's different

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Speaker 2: about that. Instead of the university going and getting a

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Speaker 2: loan and making loan payments each month to get this

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Speaker 2: what we would call a capital asset that's needed, they

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Speaker 2: get the capital asset and they turn that land into

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Speaker 2: revenue generating land. So not only do they now have

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Speaker 2: a place or they will when these houses are built

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Speaker 2: for their faculty and others to live in and affordable housing,

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Speaker 2: they also have revenue coming in to their school. And

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Speaker 2: where does that revenue go or where can it go?

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Speaker 2: That revenue can go into the same thing that we

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Speaker 2: just got to talk about, which is the endowment of

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Speaker 2: the school, to continue to grow the endowment, and at

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Speaker 2: the same time they get the benefit of having affordable houses.

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Speaker 2: We're taking that model across the country to various schools.

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Speaker 2: There are two versions of it. One is which Steinbridge,

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Speaker 2: which is the housing for a faculty in others that

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Speaker 2: is right outside the campus, but perhaps the land is

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Speaker 2: owned by the campus. The other is to take a

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Speaker 2: dormitory facility or living space on campus and do the

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Speaker 2: same thing and lease the land, but then get a

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Speaker 2: new dormitory for the students that's modern and allow the

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Speaker 2: school to get payments into their from that least. This

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Speaker 2: new model is exciting. I think we've had a meaning

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00:24:00,440 --> 00:24:03,280
Speaker 2: with many universities. Many are going in giving us their

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00:24:03,400 --> 00:24:06,280
Speaker 2: data when it's economically feasible, We're going to look to

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00:24:06,359 --> 00:24:08,560
Speaker 2: do it, and a lot of schools will be able

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00:24:08,600 --> 00:24:11,720
Speaker 2: to now get their capital asset without going into long

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00:24:11,840 --> 00:24:12,280
Speaker 2: term debt.

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Speaker 3: Wow.

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00:24:14,000 --> 00:24:17,600
Speaker 1: Very powerful, very understanding about how are you trying to

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00:24:17,640 --> 00:24:20,320
Speaker 1: make a difference. Robert Smith is making a difference with

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00:24:20,440 --> 00:24:23,000
Speaker 1: this fun Again, I want to thank you, doctor Mark Brown.

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00:24:23,080 --> 00:24:25,680
Speaker 1: It was worth the effort, It's worth the wait to

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00:24:25,760 --> 00:24:28,399
Speaker 1: get you on the show, and any website we can

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00:24:28,520 --> 00:24:31,280
Speaker 1: drive them to you can tell us about this interview.

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00:24:31,440 --> 00:24:36,080
Speaker 2: Absolutely to all your viewers listeners. Let me say Student

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00:24:36,240 --> 00:24:40,200
Speaker 2: Freedom Initiative dot org. You go to Student Freedom Initiative

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00:24:40,240 --> 00:24:43,000
Speaker 2: dot org. You can learn about everything that we just

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00:24:43,119 --> 00:24:45,840
Speaker 2: talked about today, plus many more that we did not

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00:24:46,040 --> 00:24:49,399
Speaker 2: talk about in this series, and I would encourage a

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00:24:49,440 --> 00:24:52,360
Speaker 2: couple of things. One, go out to that website. If

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00:24:52,400 --> 00:24:56,159
Speaker 2: you have a a junior or senior in high school.

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00:24:56,240 --> 00:25:00,840
Speaker 2: Now let's make an HBCU one of their options. They

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00:25:00,880 --> 00:25:03,280
Speaker 2: may have many options, but let's make an HBCE you

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00:25:03,359 --> 00:25:06,399
Speaker 2: at least one of their options. Because there we know

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00:25:06,560 --> 00:25:08,960
Speaker 2: what they'll be loved taking care of, and we know

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00:25:09,080 --> 00:25:11,720
Speaker 2: they'll be and they will do what many schools do

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00:25:11,800 --> 00:25:14,280
Speaker 2: not do. They'll create the social and economic mobility for

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00:25:14,359 --> 00:25:17,160
Speaker 2: that student that we know that will be generationally different

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00:25:17,520 --> 00:25:19,280
Speaker 2: for them and their families as they go out and

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00:25:19,359 --> 00:25:20,520
Speaker 2: do great things in the country.

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Speaker 1: Doctor Marc Brown, thank you for coming on Money Making

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00:25:22,800 --> 00:25:23,879
Speaker 1: Conversation Masterclass.

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00:25:24,680 --> 00:25:26,639
Speaker 2: It's great talking to you. Thank you very much for

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00:25:26,680 --> 00:25:28,040
Speaker 2: having me appreciate again.

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00:25:28,119 --> 00:25:30,200
Speaker 1: Thank you for listening to my show every week. Again.

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00:25:30,280 --> 00:25:33,080
Speaker 1: I'll be back next week. And in closing, keep winning

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00:25:33,600 --> 00:25:35,919
Speaker 1: and always leave with your gifts.

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00:25:37,680 --> 00:25:40,040
Speaker 3: Thank you for joining us for this edition of Money

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00:25:40,080 --> 00:25:45,720
Speaker 3: Making Conversations Masterclass. Money Making Conversations Masterclass with rough Shan

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00:25:45,800 --> 00:25:48,920
Speaker 3: McDonald is produced by thirty eight to fifteen Media Inc.

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00:25:49,240 --> 00:25:52,440
Speaker 3: More information about thirty eight to fifteen Media Inc. Is

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00:25:52,560 --> 00:25:55,960
Speaker 3: available at thirty eight to fifteen media dot Com, and

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00:25:56,160 --> 00:26:03,280
Speaker 3: always remember to lead with your gifts th