Imagine you’re at your college graduation and the commencement speaker promises to pay off the loan debt for every student of the graduating class. That’s exactly what billionaire philanthropist Robert F. Smith did at Morehouse College for the 2019 graduating class.

‘On behalf of the eight generations of my family who have been in this country, we’re gonna out a little fuel in your bus,’ Smith said.

‘Now I’ve got the alumni over there. This is a challenge to you, alumni. This is my class, 2019. And my family is making a grant to eliminate their student loans.’

All told, it will cost Smith 40 million.

 

 

 

 

 

 

 

 

Students, faculty, and relatives were stunned and then overjoyed when the news sunk in.