The Morehouse College grads took to surprise when a billionaire investor Robert Smith announced to wave off their student loans.
The hows’, whens’ and where of announcement
“A little thought, a little consideration for others makes all the difference.”
Billionaire businessman Robert F.Smith did the same on Sunday noon. The senior grads of Morehouse College rejoiced endlessly when Smith announced to pay off their student loans. The announcement saw a standing ovation from all staff members and students.
Morehouse College of Atlanta is an all-boys black college having 2000+ undergraduate students. He told the new graduates that on behalf of the eight generations of his family who had been in the country, they were going to put a little fuel in student’s bus.
He further shared how his family was involved in creating grants to wave off student loans. Smith would be providing enough grant to quash the debts of around 400 graduating students.
Who is Robert Smith: the celebrated tech-billionaire?
Smith is the founder, CEO of Vista Equity Partners. It is a venture capital and equity firm that invests on building tech-oriented startups and businesses. He has an estimated worth of $5 billion. He is an active philanthropist with an African-American descent.
Smith had already helped the college authorities by providing a hefty donation of $1.5 million. He also received a doctorate degree in this honour from Morehouse. Besides, the total amount required for paying off their loans will estimate to $40 million.
For the students, it was more like an unfair burden was uplifted from their shoulders.
Much before the very event, Michael Bloomberg, former mayor of NYC donated around $1.8 billion to Johns Hopkins University. He also made significant efforts to make education available for low- and middle-income families.
The world surely changes by examples, not words.
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