Morehouse College Commencement Speaker Will Pay Graduates' Student Loan Debt

While giving the commencement speech at Morehouse College on Sunday, Robert F. Smith (a billionaire philanthropist and business leader) pledged to pay off the student loan debt of the graduating class. Smith said: "On behalf of the eight generations of my family that have been in this country: We're going to put a little fuel in your bus... I've got the alumni over here. And this is a challenge to alumni. This is my class, 2019. And my family is making a grant to eliminate their student loans." Yahoo News has the story with video here. Inside Higher Ed reports that the Smith family's gift may reach as high as $40 million.