Billionaire Pays Off Student Loans for Entire Graduating Class

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Source: AP

The graduating class at Atlanta’s Morehouse College got more than congratulations from the billionaire businessman delivering their commencement speech; he revealed he would be paying off all of the graduating seniors’ student loans!

Billionaire investor, Robert E. Smith, told the graduating class at the all-male, historically African American college, “On behalf of the eight generations of my family that have been in this country – we’re going to put a little fuel in your bus.”

“I’ve got the alumni over here,” Smith, who earned an honorary doctorate from Morehouse during the ceremony, said during his commencement speech. “And this is a challenge to alumni. This is my class, 2019. And my family is making a grant to eliminate their student loans.”

According to the New York Times, Smith, who founded Vista Equity to become the richest African American in the country, is known for his philanthropic donations and said his gift is his way of paying it forward.

“Let’s make sure every class has the same opportunity going forward, because we are enough to take care of our own community,” Smith told the 396 young men graduating. “We are enough to ensure we have all of the opportunities of the American dream, and we will show it to each other through our actions and through our words and through our deeds.”

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