Published On: Mon, May 20th, 2019

Morehouse College Commencement Speaker Promises To Erase Grads’ Student Loan Debt

Robert F. Smith gives a speech

The graduating class at Morehouse College in Atlanta was shocked this weekend when the commencement speaker announced that he would be paying off the student loan debt of the entire graduating class.

Per CNN, Robert F. Smith, the billionaire tech investor, made the declaration during his speech that his family was making a grant to wipe out the student loans of every senior in the class, at an estimated price tag of $ 40 million. Smith, in addition to speaking, was awarded an honorary degree by the college.

“On behalf of the eight generations of my family who have been in this country, we’re going to put a little fuel in your bus,” Smith said in the speech. “Now, I know my class will make sure they pay this forward.”

Morehouse is an all-male, historically black college in Atlanta that was founded in 1867. Its most famous alumni include Dr. Martin Luther King, Jr., Spike Lee, and Samuel L. Jackson.

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Morehouse College Commencement Speaker Promises To Erase Grads’ Student Loan Debt