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Atlanta GA - Billionaire Pledges To Pay Off All Students' Debt

Published on: May 19, 2019 11:00 PM
By: AP
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Robert F. Smith, left, laughs with David Thomas, center, and actress Angela Bassett at Morehouse College on Sunday, May 19, 2019, in Atlanta. Smith, a billionaire technology investor and philanthropist, said he will provide grants to wipe out the student debt of the entire graduating class at Morehouse College - an estimated $40 million. Smith, this year's commencement speaker, made the announcement Sunday morning while addressing nearly 400 graduating seniors of the all-male historically black college in Atlanta. (Bo Emerson/Atlanta Journal-Constitution via AP)Robert F. Smith, left, laughs with David Thomas, center, and actress Angela Bassett at Morehouse College on Sunday, May 19, 2019, in Atlanta. Smith, a billionaire technology investor and philanthropist, said he will provide grants to wipe out the student debt of the entire graduating class at Morehouse College - an estimated $40 million. Smith, this year's commencement speaker, made the announcement Sunday morning while addressing nearly 400 graduating seniors of the all-male historically black college in Atlanta. (Bo Emerson/Atlanta Journal-Constitution via AP)

Atlanta, GA - 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.

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Video footage of Smith’s remarks show mouths falling agape before students rise to their feet to cheer and applaud as the pledge is made.

“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.

The black founder and chief executive of the private equity firm Vista Equity Partners has a net worth of about $4.4 billion, according to a 2018 estimate by Forbes magazine.

Morehouse is a historically black college, one of more than 100 schools founded to serve black students, mostly in the U.S. South, before the 1964 Civil Rights Act outlawed school segregation. Martin Luther King Jr., the civil rights hero, is among its notable alumni.

The weight of student loan debt has become a focus of many of the candidates seeking to be the Democratic Party’s nominee in next year’s U.S. presidential election. Some candidates have pledged to cancel large portions of the debt and make college more affordable.



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Read Comments (13)  —  Post Yours »

1

 May 19, 2019 at 11:35 PM Racist! Says:

What a racist POS! Why isn’t he paying off a few white kids’ tuition? I’d love to see the public outcry if it was reversed!

2

 May 20, 2019 at 09:03 AM Phineas Says:

Reply to #1  
Racist! Says:

What a racist POS! Why isn’t he paying off a few white kids’ tuition? I’d love to see the public outcry if it was reversed!

Would you say the same thing if a frum Jew did the same at YU?

3

 May 20, 2019 at 10:13 AM Cixelsyd_Wnosanoy Says:

Reply to #1  
Racist! Says:

What a racist POS! Why isn’t he paying off a few white kids’ tuition? I’d love to see the public outcry if it was reversed!

You are the racist...your comment is as silly, stupid, off point and intolerant as would be criticism of a Yid who agreed to pay off all tuition arrears of a class of bochrum. He paid off the debt of the entire class, dummy. People who mouth off like you are an embarrassment.

4

 May 20, 2019 at 10:42 AM Educated Archy Says:

I do give the man credit. And at least he did for a graduating class. In other words we shouldn't be in the business of paying for people who just jump around in college without ever graduating. nest step is a greatrer focus on people who major in jobs that matter in the STEM areas. We don't need more liberal arts and sociology nonsense degrees. Colleges are costly and are a means to an end of bringing people to earn a living.We need to focus more on majors that accomplish that. And I should note, this is a problem among the frum community too. People buy into expensive MBA's with a yeshiva degree. Like hello nobody is hring you bec you got some MBA in a year with no noraml college degree. And you spent 30k to get that. People need to think before they go to school if that major actually has a history of bringing people to meaningful employment. And yes PCS needs to get their act together too. Don't set up college courses that yingerlit pay 30k for no jobs.

5

 May 20, 2019 at 11:38 AM Cixelsyd_Wnosanoy Says:

Reply to #4  
Educated Archy Says:

I do give the man credit. And at least he did for a graduating class. In other words we shouldn't be in the business of paying for people who just jump around in college without ever graduating. nest step is a greatrer focus on people who major in jobs that matter in the STEM areas. We don't need more liberal arts and sociology nonsense degrees. Colleges are costly and are a means to an end of bringing people to earn a living.We need to focus more on majors that accomplish that. And I should note, this is a problem among the frum community too. People buy into expensive MBA's with a yeshiva degree. Like hello nobody is hring you bec you got some MBA in a year with no noraml college degree. And you spent 30k to get that. People need to think before they go to school if that major actually has a history of bringing people to meaningful employment. And yes PCS needs to get their act together too. Don't set up college courses that yingerlit pay 30k for no jobs.

"We don't need more liberal arts and sociology nonsense degrees."

All four U.S. military academies disagree, each strongly defending their requirement that cadets receive a substantial liberal arts education...the main point being that a well grounded liberal arts education gives one a far better understanding of current world events and how to address those events. But what would you know about that!

6

 May 20, 2019 at 12:17 PM ELEPHANT Says:

College in the USA is a nice place to keep the youth under control. They burden you with huge bills and endless classes. Its only done to keep you off the streets and under control. They don’t teach you anything real.

7

 May 20, 2019 at 12:48 PM Anonymous Says:

Reply to #2  
Phineas Says:

Would you say the same thing if a frum Jew did the same at YU?

Yes frum jews tend to primarily give to frum mosdos Rightfully so because we are the chosen nation.

8

 May 20, 2019 at 03:30 PM Cixelsyd_Wnosanoy Says:

Reply to #7  
Anonymous Says:

Yes frum jews tend to primarily give to frum mosdos Rightfully so because we are the chosen nation.

Every community tends to support its own institutions...chosen or not.

9

 May 20, 2019 at 05:11 PM Educated Archy Says:

Reply to #5  
Cixelsyd_Wnosanoy Says:

"We don't need more liberal arts and sociology nonsense degrees."

All four U.S. military academies disagree, each strongly defending their requirement that cadets receive a substantial liberal arts education...the main point being that a well grounded liberal arts education gives one a far better understanding of current world events and how to address those events. But what would you know about that!

Oh my academies talking about academies. Its nonsense. Baloney. Please do tell me what percent of liberal arts degrees bring to meaningful employment?

Why does your classic john smith need such a deep understanding of world events? A few courses are more than enough.

I never heard such stupitdy in my life. The tax payer doesn't need to fund nonsense degrees or degrees that help epople undertsand the world. We need jobs and finsihed. Enough of this intllectual garbage. Its nonsense.

10

 May 20, 2019 at 07:39 PM Scoops Says:

Reply to #1  
Racist! Says:

What a racist POS! Why isn’t he paying off a few white kids’ tuition? I’d love to see the public outcry if it was reversed!

Excellent question which no one from the left will address

11

 May 20, 2019 at 09:08 PM hashomer uses 10 different screen names Says:

Reply to #3  
Cixelsyd_Wnosanoy Says:

You are the racist...your comment is as silly, stupid, off point and intolerant as would be criticism of a Yid who agreed to pay off all tuition arrears of a class of bochrum. He paid off the debt of the entire class, dummy. People who mouth off like you are an embarrassment.

Gei kakken, hashomer!

11

 May 20, 2019 at 09:10 PM to hashomer Says:

Reply to #8  
Cixelsyd_Wnosanoy Says:

Every community tends to support its own institutions...chosen or not.

Yeah and if we had strictly white colleges, and a white miss america pageant, and a white tv channel, like the blacks have, we’d be called racists, you pc idiot!

11

 May 20, 2019 at 09:11 PM Reverse racism Says:

Reply to #8  
Cixelsyd_Wnosanoy Says:

Every community tends to support its own institutions...chosen or not.

So u wouldn’t have a problem with a white millionaire specifically paying tuition for white? Lying idiot.

12

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