Billionaire Robert Smith wipes out Morehouse grads’ debt

Robert Smith pledges $40 million to clear Morehouse grads’ student debt

The Vista Equity Partners founder on Sunday pledged to pay off loans for 396 new graduates of the historically black college.

Image: Robert Smith speaks at the Ripple of Hope Awards in New York on Dec. 8, 2015.

(Robert Smith speaks at the Ripple of Hope Awards in New York on Dec. 8, 2015.Astrid Stawiarz / Getty Images for RFK Human Rights file)

 

Billionaire tech investor and philanthropist Robert F. Smith stunned graduates of Morehouse College in Atlanta on Sunday, pledging $40 million to wipe out their student-loan debts.

Wild cheers and astonished looks greeted Smith after he made the gift during his commencement address at the famed historically black college.

“My family is going to create a grant to eliminate your student loans,” Smith told graduating seniors. “You great Morehouse men are bound only by the limits of your own conviction and creativity.

 

Story By David K. Li

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