Billionaire pledges to pay student debt for 2019 class at historic black US college.
Robert Smith makes pledge to eliminate students’ debt estimated at $40m at Morehouse, Martin Luther King’s alma mater.
Delivering the commencement address at Morehouse College in Atlanta, the alma mater of Martin Luther King Jr, the billionaire technology investor and philanthropist Robert F Smith made a surprise announcement: his family would wipe out the student debt of the entire class of 2019.
Smith’s words to nearly 400 graduating seniors were greeted with a moment of stunned silence, then, unsurprisingly, the biggest cheers of the morning.
“On behalf of the eight generations of my family that have been in this country, we’re gonna put a little fuel in your bus,” Smith said. “This is my class, 2019. And my family is making a grant to eliminate their student loans.”