A billionaire promises to pay all of Morehouse class of 2019’s student debt [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
A billionaire promises to pay all of Morehouse class of 2019’s student debt Billionaire Robert F. Smith stunned students at Morehouse College when he vowed to pay off the student loans of every member of the class of 2019. “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, 56, founder of Vista Equity Partners, said Sunday during his commencement speech to the Atlanta college’s graduating class. “My family is going to create a grant to eliminate your student loans,” Smith added, according to a Twitter post by Morehouse. Almost three-fourths of students use federal loans at the historically black college, which has about 2,100 male undergrads, according to Education Department data. With US$1.6 trillion in outstanding student debt, the issue is often mentioned during commencements, in addresses and decorated on graduation caps. The typical debt for the 73 per cent of Morehouse undergraduates who take out f
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