Billionaire Robert F. Smith Creates Grant To Eliminate Morehouse Class of 2019’s Student Loans
Nearly 400 new graduates were blessed over the weekend, walking away with their degrees from the historical HBCU, Morehouse College, but also with zero student loans! During the Morehouse graduation ceremony, billionaire Robert F. Smith, who received an honorary doctorate at Morehouse Sunday morning, announced he and his family will cover all student loans. He says,
“My family is going to create a grant to eliminate your student loans!”
Epic moment with #RobertFSmith promising to pay $40M to pay off the college student debt of the entire #MorehouseCollege class of 2019. This is truly paying it forward. “Between doubt and your destiny is action. Between our community and the American Dream is your leadership.” pic.twitter.com/qPgN3OFdTp
— Hampton Blu (@HamptonBlu) May 19, 2019
The total amount of debt that will be paid off by Smith is estimated at $40 million, according to reports. One graduate of the Class of 2019, Charles Releford III, had an estimate of $70,000 worth of student loan but because of Smith and his family, all will be covered.
Another graduate, Ross Jordan tells reporters he and all of his class couldn’t quite comprehend the impact Smith did for their class,
“It was very surprising It took a couple of seconds for everyone to actually comprehend what was happening and it lit our hearts in a way we haven’t felt, as well as gave our parents a sigh of relief to know that he hard work is being paid off.”
Smith is believed to be the richest African American, worth $4.4 billion, according to the latest estimates by Forbes.
Smith says during his speech on Sunday, he wanted to change the lives for black America.
“I’m putting some fuel into your bus. I’m counting on you to load up that bus.”
“You want to own it, you want to drive it, and you want to pick up as many people as you can along the way.”
Congratulations to all of the graduates of Morehouse!