Morehouse College graduation speaker and billionaire, Robert F. Smith, announced he would pay off all student loans of all graduating seniors. They all looked in disbelief as if to ask, ‘Did he say what I think he said?…pay off all our student loans?’
Well, well. Most agree this was the best graduation speech ever! Allowing these students to move forward in their career without being strapped with tens of thousands of dollars in debt is a real game changer. It will allow them more choices in their career options.
As U.S. college graduates graduate with high amounts of student loan debt, African Americans tend to have more than other ethnic groups. It is reported that the average 2019 Morehouse graduate owes $29,000 in student loan debt. And, it will cost Mr. Smith about $40 million to pay off those loans for approximately 400 graduates.
Smith also committed to a $1.5 million donation to the Morehouse College prior to the graduation.
Thank you Robert F. Smith for sharing your wealth and changing the lives of the Morehouse College Class of 2019. You rock!!
Wouldn’t it be great if other billionaire college commencement speakers would do the same?