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#billionaire pays off #student#debt of #morehouse#college's entire #graduating#class
Commencement speaker and billionaire #robertfsmith announced Sunday he will donate an estimated $40 million to pay off the student debt for the 400 students graduating at the historically black, all-male Morehouse College, the Atlanta Journal-Constitution reports.
Why it matters: Student debt in the United States has reached $1.5 trillion. Studies show student debt causes lower incomes and is the No. 1 stressor of millennials.
Smith, a #philanthropist, tech #investor and founder of Vista Equity Partners, already donated $1.5 million to the college. “This #degree you’ve earned is a #social#contract to devote your talents and energies to honoring those legends on whose shoulders we stand," Smith said to the class of 2019.
“Between doubt and destiny is action. Between our community and the #americandream is #leadership." https://www.axios.com/robert-f-smith-morehouse-college-student-debt-d8ec8965-9b68-45a1-a46a-2a40f23e6627.html?utm_source=facebook&utm_medium=social&utm_campaign=organic&fbclid=IwAR0pmoUKvYv6mhPP1Jtwrc-XinCJ5wOXAEfymLG-W5qdzLU88-861ySfdYI