Community Chat

[Marp]

Billionaire tech investor and philanthropist Robert F. Smith stunned graduates of Morehouse College in Atlanta on Sunday, pledging tens of millions of dollars to wipe out their student-loan debts.

Wild cheers and astonished looks greeted Smith after he made the gift during his commencement address at the famed, all-male historically black college.

"My family is going to create a grant to eliminate your student loans," Smith told graduating seniors. "You great Morehouse men are bound only by the limits of your own conviction and creativity."

More at:  nbcnews.com/news/us-news/philanthropist-robert-smith-pledges-40-million-clear-morehouse-grads-student-n1007506?cid=public-rss_20190519

[jeanlake]

What a joy for grads and their families. Best news I've heard today. Thank you for sharing. 

[september]

On first reading this...that sounds awesome.  But did they all “need” this?

In my opinion, there are people living in very dire straits in this country.  I make my charitable contributions based on who needs help the most.   Most of these people have never have had the opportunity to go to college, even with loans. 

[grandma r]

Congratulations to all of those lucky graduates!!  No debt to start their careers.

How very generous!!!

[Marp]

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@september wrote:

On first reading this...that sounds awesome.  But did they all “need” this?

In my opinion, there are people living in very dire straits in this country.  I make my charitable contributions based on who needs help the most.   Most of these people have never have had the opportunity to go to college, even with loans. 

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There were 400 students in the graduating class and while some, many, all or none of them may meet your criteria the median household income of Morehouse students is under $62,000 a year with an annual attendance cost of approximately $48,723.

In a perfect world anyone that didn't "need" or want this assistance would turn it down (we don't know if anyone did) but I doubt there were many that graduated debt free.

BTW, the benefactor is a Morehouse graduate.

[RetRN]

Every school will now want him to give their commencement address.

[Citrine1]

Yes, I read this on-line earlier tonight @Marp  and I agree that it is a wonderful thing this man did.  I'm so happy for these students.  I can only hope they've learned a valuable lesson from this and feel compelled to be the best people they can be.  This man has changed their lives.  What a generous, kind man he is!

[Carmie]

Wow, how generous.

I would hope this wind fall also includes those who have worked their way through college and their families who struggled to keep up with the payments and saved every penny they could so they didn't have to borrow.

Anyway, it is a wonderful thing.  Congratulations to the whole class.

[SXMGirl]

To be able to start your career debt-free is quite a generous gift.  I wish all of the graduates a successful career and a very happy life doing what they love.

[suzyQ3]

It's the gesture that HE chose, and it's incredibly gracious.