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Billionaire pledges to pay off Morehouse students’ debt

Credit: Reuters- Published on May 20, 2019
Billionaire investor Robert Smith surprised graduating students at Morehouse College in Atlanta, Georgia, by using his speech at Sunday's commencement ceremony to pledge to pay off the student loan debt of the entire class of 2019.
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Credit: Wibbitz Studio
Published on May 20, 2019 -  01:06
Billionaire Pledges to Eliminate Student Loan Debt of Morehouse College Graduates
Billionaire Pledges to Eliminate Student Loan Debt of Morehouse College Graduates Robert F. Smith attended Morehouse College’s 2019 commencement ceremony to receive an honorary doctorate from the school. Smith is the founder and CEO of Vista Equity Partners and is worth an estimated $5 billion, according to 'Forbes.' During his speech, Smith announced he would provide a grant to the nearly 400 graduating students, covering the entirety of their college debt. Robert F. Smith, via ‘MSN’ The announcement was a surprise to both Smith’s staff as well as the Morehouse College faculty and students. A spokesperson for Morehouse said Smith’s contribution is the biggest single gift in the college’s history. The student debt will cost an estimated $40 million on top of the $1.5 million gift Smith previously pledged to the university.

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