Smith, who made his billions in the tech sector, announced the generous gift to 400 graduating seniors during the school’s 135th commencement ceremonies on Sunday at the all-male college in Atlanta.
“This is my class, 2019. And my family is making a grant to eliminate their student loans,” Smith said. His remarks drew thunderous applause from the students and faculty.
The pledge to pay off the student loans is believed to be worth $40 million. It is the largest single gift in the school’s history.
Actress Angela Bassett joined commencement speaker Smith, left, and President of Morehouse College David A. Thomas, right, at Morehouse College’s 135th Commencement in Atlanta on Sunday.
Smith asked the graduates to pay it forward. “Because we are enough to take care of our own community. We are enough to ensure that we have all the opportunities of the American dream,” Smith said, according to the Associated Press. “And we will show it to each other through our actions and through our words and through our deeds.”
Billionaire philanthropist Robert Frederick Smith paid off the student loan debt for the entire 2019 graduating class of Morehouse College
“I don’t have to live off of peanut butter and jelly sandwiches. I was shocked. My heart dropped. We all cried. In the moment it was like a burden had been taken off,” Mitchum, 22, told the Associated Press.
This is beautiful. School should be free to kids who want to further their education. You should not be facing any debt after graduating.
$200k for an undergraduate degree. Good lord! That was what kept me from going to Spelman. My guidance counselor warned me when I was applying about their trash financial aid packages for poor students-he didn’t even want me to apply. I applied anyway, was accepted and the financial aid packet was indeed trash. I saw how much debt I was going to be in and chose the full ride at the public university instead. Robert Smith is a hero!
THIS IS BY FAR THE MOST VISIONARY AND KINDEST DEED I’VE EVER HEARD OF IN MY LIFE. GOD BLESS DR. SMITH AND THE 2019 GRADUATING CLASS OF MOREHOUSE!
Now this is giving back. My goodness God is good. I hope this pushes others to give back in this manner but also pushes that student that has their doubts of finishing to finish. Lovely lovely lovely
Like l always people with real money dont advertise or name drop 2 prove they r wealthy. They just go about their everyday lives n keep it moving. We never seen him on facebook like these idiots holding stacks of money in his hand or wearing clothes with alphabets on them.
Did u see where castile mom paid so kids can have school lunches. Have we as a nation gotten so money hungry kids r in debt for one meal a day at school but yet we pay farmers billions not 2 grow anything 2 feed them .
The finance major said he owed $200,000 in student loan debt, which he estimated would’ve taken him about 25 years to pay off
I am sick of these 3 bedroom 1 and 1/2 bath negroes constantly bragging as if they have arrived n folks gotta catch up with them.
Editorial comment: the farmers depend on school lunches for part of their earnings. Now, as far as the kids not being able to pay and have to eat peanut butter sandwiches. I’m in the minority, but at least the kids were fed. They ed, but that’s on the school to make the other kids not shame them.