The New York Post reported yesterday that in a commencement speech at Morehouse College in Atlanta, Georgia, billionaire tech investor Robert F. Smith promised to pay off the student loans of the graduating class. Wow.
The article reports:
Billionaire tech investor Robert F. Smith stunned college graduates on Sunday as he gave their commencement speech — offering to pay their student debts despite it costing an estimated $40 million.
“On behalf of the eight generations of my family that have been in this country, we’re gonna put a little fuel in your bus,” Smith told the 400 graduating seniors at the all-male Morehouse College in Atlanta.
“This is my class, 2019. And my family is making a grant to eliminate their student loans.”
The announcement was initially met with stunned looks — before the graduates broke into cheers and tears at the largest gift ever given to the historically black college.
This is brilliant. The students were graduating–they had completed their studies–they had not dropped out. Now the students were faced with serious debt that they had accumulated in order to pay for their college education. Now they are free to pursue whatever career they choose without having that debt hanging over their heads. Paying off these debts not only helps the students, it helps America by making sure those student loans were quickly paid off. Wow.