Billionaire Robert F. Smith Promised to Pay off the Student Debt of the Entire Morehouse Class of 2019

Smith, who recieved an honorary doctorate from Morehouse on Sunday morning announced to the graduating seniors that he would pay off their college debt.

“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 newly minted graduates in Atlanta before saying his family was creating a grant to eliminate their student loans.

This was announced after already donating a $1.5 Million gift to the HBCU. It came as a surprise to Smith’s staff and to the staff at Morehouse, and elicited the biggest cheers of the morning.

The sum among the 396 students adds up to about $40 million, said Morehouse President David A. Thomas. He called Smith’s gesture “a liberation gift.”

“This is my class,” Mr. Smith said, “and I know my class will pay this forward.”

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