Billionaire Promises To Pay Off All Morehouse Graduates Student Debt

"Now, I know my class will make sure they pay this forward," Smith said. Those words resonated with the graduating class of 2019 from Morehouse College. Billionaire Robert F Smith was receiving a degree from the historically black university this year. "On behalf of the eight generations of my family who have been in this country, we're going to put a little fuel in your bus," he told the new graduates in Atlanta before saying his family was creating a grant to eliminate their student loans.

"I want my class to look at these (alumni), these beautiful Morehouse brothers, and let's make sure every class has the same opportunity going forward because we are enough to take care of our own community. We are enough to ensure we have all the opportunities of the American dream."

The nearly 400 graduates will have an estimated $40 million in debt.

Photo: Getty Images

 
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