Billionaire Robert F. Smith pledges to pay off Morehouse College Class of 2019′s student loans
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It was a hot, sticky morning in Atlanta on Sunday when billionaire investor and philanthropist Robert F. Smith stood atop an outdoor stage on the campus of Morehouse College and started delivering a speech that the nearly 400 graduates probably thought would be the usual commencement fare.
Smith told the graduates how he launched his lucrative career. He gave them wise words on grit and success. Then he deviated from his prepared remarks.
“My family is going to create a grant to eliminate your student loans!”
The grads and their families were speechless for a moment — before erupting in cheers and shouts of disbelief.
“There was amazement in the room, people’s mouths dropped open,” said Morehouse President David A. Thomas, who learned of the gift at the same moment as the students. “Students were looking at each other like, ‘What did he say?’ Parents hopped up to hug each other.”
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