Morehouse College seniors got a surprise Sunday, Billionaire investor Robert F. Smith announced during his commencement speech he would pay off the student-loan debt for the historically black college’s graduating class. Morehouse President David A. Thomas; “The total amount of student loan debt from the 396 students adds up to about $40 million. He called Smith’s gesture “a liberation gift.”
Smith: “‘When you have to service debt, the choices about what you can go do in the world are constrained,’ (Smith’s gift) gives them the liberty to follow their dreams, their passions.”
It would be an interesting to track these students and compare the results to others who are burdened with student loan debt.