Now isn’t this a blessing! Billionaire Robert F.Smith to pay off all the student loan debt for the whole Morehouse class of 2019!
Billionaire Robert F. Smith, who received an honorary doctorate at Morehouse College’s Sunday morning graduation exercises, had already announced a $1.5 million gift to the school.
But during his remarks in front of the nearly 400 graduating seniors, the billionaire technology investor and philanthropist surprised some by announcing that his family was providing a grant to eliminate the student debt of the entire Class of 2019.
“This is my class,” he said, “and I know my class will pay this forward.”
The announcement elicited the biggest cheers of the morning
Tonga Releford, whose son Charles Releford III is a member of the Class of 2019, estimates that his student loans are right at about $70,000.
“I feel like it’s Mother’s Day all over again,” she said.
The gift has been estimated at $40 million.
Smith is chairman and CEO of Vista Equity Partners, a software and technology investment firm. [AJC]
This is one hell of a way to get these young graduates off to a great start towards their bright futures!
Pay it FORWARD!