Billionaire investor Robert Smith surprised graduating students at Morehouse College in Atlanta, Georgia, by using his speech at Sunday’s commencement ceremony to pledge to pay off the student loan debt of the entire class of 2019.
“This is my class, 2019, and my family is making a grant to eliminate their student loans,” Smith said during his speech, pointing towards hundreds of students dressed in black robes and mortarboards. “I know my class will make sure they pay this forward,” Smith added.
Related reading:
Robert F. Smith (investor) on Wikipedia
YOu have got to be kidding me! This act simply reinforces the attitude that if I stay in the system and don’t make waves, maybe some angel will come along and give me a prize. He’s a Oprah Winfrey wannabe. Instead of his 5 minutes of fame, maybe he should direct his money towards addressing the student loan scam, the inability to discharge student loan debt in bankruptcy, or the take-over of the universities by the politically motivated. What our youth need is not more cash and prizes, but better opportunities to work hard for their rewards.
John:
Good point. And point well taken about Oprah who has done terrible harm with her omissions. Smith is just one guy who did what he could do. If we could get enough people doing what they could do – even if was paying off the loans – I believe Alan Collinge could make real progress on returning consumer protections. I think the picture and news of one man demonstrating that leadership means you protect and invest in your young people instead of harvesting them is a good message to send.
Thanks for pointing out the risks here.
Catherine
Just WOW. What an inspiration!