Billionaire Robert F. Smith surprised graduating seniors at Morehouse College on Sunday by announcing he would pay off all their student debt.
“This is my class,” he said, according to the Atlanta Journal-Constitution, “and I know my class will pay this forward.”
Smith, a philanthropist and CEO of technology investment firm Vista Equity Partners, received an honorary doctorate Sunday and had already made a $1.5 million contribution to the school earlier this year for scholarships and a new park.
The student loan payoff for the nearly 400 graduating students is estimated to be about $40 million. A college spokeswoman said it is the largest single gift in the history of the school.
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Billionaire commencement speaker at Morehouse College announced he would pay off the student loans of the entire class.
The estimated cost is $40 million,https://t.co/y2cd5gToPM
— Washington Examiner (@dcexaminer) May 20, 2019
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