Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Student Loans Cancelled for an Entire Graduating Class
#1
A life-changing surprise gift yesterday for the graduating class of 2019 at Morehouse College in Atlanta. Commencement speaker Robert F. Smith, a hedge fund billionaire with stakes particularly in enterprise software companies, announced that his family is making a donation to pay off student loans for every graduate in the class. "We're gonna put a little fuel in your bus," he put it.

Morehouse College is the all-male Historically Black College that's awarded more bachelor's degrees to African-American men than any other school in the country. Alumni include Martin Luther King Jr., Samuel L. Jackson, and Spike Lee.


[-] The following 2 users Like Jonathan Whatley's post:
  • quigongene, tifferbugz
Reply
#2
Wow, that is incredible!
Working towards: TESU, BSBA-HR (114/120 units complete, goal to graduate in 2020).

Completed: B&M CC: 67 units applied Study.com: Principles of Management, Principles of Marketing, Computing, International Business, Library Science, Managerial Accounting, Leading Organizational Change, Finance, Organizational Theory, Strategic Human Resources (30 units) Davar: Organizational Behavior, Managerial Communication (6 units) Sophia: Microeconomics, Conflict Resolution, Leading Teams (5 units) Institutes: Ethics (2 units) TESU: Business Capstone, Cornerstone (4 units)

Currently Working On: Sophia: College Algebra
Courses Left To Go: CSMLearn/Sophia: Statistics requirement



Reply
#3
Oh, wow! That's incredible.
Boston University: MS in Software Development (20/32 SH - 1 Course IP) | GPA: 3.88
Thomas Edison State University: BA in Liberal Studies GPA: 4.00 | AS in Natural Science and Mathematics (Computer Science, Mathematics) | Certificate in Electronics
Excelsior College: AAS in Technical Studies (Electronic/Instrumentation Technologies) - High Honors GPA: 3.79
Community College: AAS in Applied Science and Engineering Technology - Highest Honors GPA: 3.91 | AAS in Technical Studies (Computer Technology)

Epsilon Pi Tau International Honor Society Golden Key International Honor Society | Phi Theta Kappa Honor Society
Reply
#4
I read about it on google news. How generous of him!!
TESU BALS-Psych. + ASNSM(Math): 124 Cr.

TEEX(6): Cybersecurity 101/201/301
The Institutes(2): Ethics
Sophia(2): Essentials of Managing Conflict, Dev. Effective Teams
NFA(1): Comm. Safety Edu.
GED(10): NAS-131, SOC-273, MAT-121, HUM-101 (1)
Study.com(75): Intro to Psych., Soc. Psych.-1, Growth & Dev. Psych., Personality Psych., History & Systems of Psych., Org. Theory, Library Science, Comm. at Workplace, Intro to World Religion, I/O Psychology, Ethics in Social Sciences, Org. Comm., Eng. 104, Eng. 105, History of Vietnam war, Special Ed. History & Law, Differentiated Ed., Classroom Management, Foundations of Ed., Abnormal Psych., Research methods in Psych., College Math, Intro. to Geometry., Calculus (6).
Saylor (15): Intro. to Molecular & Cellular Biology, Comparative Politics, Corporate Comm., Env. Ethics, Principles of Comm. 
TESU (1): Cornerstone, Lib. 495 Capstone.
CSM (3): Quant. reasoning. 
Aleks (6): Trigonometry, Intro to Statistics. 
Reply
#5
I hope someone out there does a longitudinal study on this class to see their outcomes, because this is a golden opportunity both for those students and advocates in general.

Senior college admissions counselor in Beijing with research interest in higher ed college access. Reverts to PADI Divemaster when near a coast.

BS Anthropology | Tulane University '08 (3.90, summa cum laude
MS Early Childhood Studies: Administration, Management, & Leadership | Walden University '19 (3.90)
Certificate College Access Counseling | Rice University '19
Certificate Teachers College College Advising Program | Columbia University '19
Other TOEFL/IELTS Trainer; Alumni/Company Interviewer; National Resume Writers' Association (completed coursework!)
Goals: A) 2nd MS in Higher Ed; B) 51/195 Countries; C) Find good hamburger in Beijing (accomplished June '19!)

[-] The following 3 users Like PrettyFlyforaChiGuy's post:
  • MrBossmanJr, Sapientes, tifferbugz
Reply
#6
I attended Morehouse College but left as funds for my scholarship dried out during the recession which lead to me to the Big 3. Morehouse is a very interesting place, the guy sitting next to you in class could be a Bill Gates Scholar, the guy behind you an Oprah Winfrey Scholar, while the guy in the front of you parents are struggling to pay 40,000 a year in tuition. I met so many students on campus who rejected Harvard, Yale and other top schools to attend the school. A great number of individuals I started their with are now physicians, lawyers, working at Google or Microsoft or bio-tech companies, some working on their phds ect. They will pay it forward.
[-] The following 2 users Like Exfactor's post:
  • cookderosa, Jonathan Whatley
Reply
#7
(05-20-2019, 12:23 PM)PrettyFlyforaChiGuy Wrote: I hope someone out there does a longitudinal study on this class to see their outcomes, because this is a golden opportunity both for those students and advocates in general.

I'm such a synic.... but I don't think this morally obligates the students to "do" anything different than they were planning. His speech hinted at an expectation of paying it forward, but what does that mean? To take a job in a certain sector? To earn a certain income so you can donate back to a scholarship fund? To dedicate your career to service?
While I love the generosity, it's not a gift if it has strings. The recipient may or may not look at their career any differently than if they had their debt to repay.

And to Exfactor's point, I think the college culture will be a more important contributing factor to whether or not students pay it forward and what that looks like.
Reply
#8
(05-21-2019, 01:40 PM)cookderosa Wrote:
(05-20-2019, 12:23 PM)PrettyFlyforaChiGuy Wrote: I hope someone out there does a longitudinal study on this class to see their outcomes, because this is a golden opportunity both for those students and advocates in general.

I'm such a synic....   but I don't think this morally obligates the students to "do" anything different than they were planning.  His speech hinted at an expectation of paying it forward, but what does that mean? To take a job in a certain sector?  To earn a certain income so you can donate back to a scholarship fund?  To dedicate your career to service?  
While I love the generosity, it's not a gift if it has strings.  The recipient may or may not look at their career any differently than if they had their debt to repay.

And to Exfactor's point, I think the college culture will be a more important contributing factor to whether or not students pay it forward and what that looks like.

Hey J!!! I have been traveling so much (currently living not in China) that unfortunately, coming into the forum has not happened too much. However, I am back in SoCal for a month and why not spend some free time checking in  Tongue  With regard to the generous offer from Robert Smith, all I felt during the offer was a joy for each of the students and did not see a handcuffed expectation for the students to give back. However, I did feel a challenge to the highly successful Alumni in the front row who Mr Smith gave a direct challenge to step up and give back to a school that he felt has given a tremendous value to them. I would say that I agree with your overall position and also, did not see your position stated in the offering.

I do feel back for the class of 2018 & 2020!!!  Sad Big Grin
PhD, Leadership, University of the Cumberlands - What Have I Done!!?!!
MBA, Healthcare Management, Western Governors University - in progress
MS, Management and Leadership, Western Governors University - 2017
BS, Business Administration, Thomas Edison State University - 2016

RANSOMSOUL: Exchange Good For Great

The Ultimate Route to Earning a Bachelor's Degree in Business: A StraighterLine Success Story
Reply
#9
Graduates of this class are very lucky. Since student loans are a big problem for many students. Debts for which remain for many years after graduating from university or college. But the cost of education is high and many have no other options than to take a student loan ... Personally, I began to pay a student loan from the first year, for this, I used a student credit card. But I managed to pay only half of this debt. I had been paying this loan for a few years after graduation. Therefore, the guys are very lucky!
Reply
#10
(05-21-2019, 02:49 PM)RANSOMSOUL Wrote:
(05-21-2019, 01:40 PM)cookderosa Wrote:
(05-20-2019, 12:23 PM)PrettyFlyforaChiGuy Wrote: I hope someone out there does a longitudinal study on this class to see their outcomes, because this is a golden opportunity both for those students and advocates in general.

I'm such a synic....   but I don't think this morally obligates the students to "do" anything different than they were planning.  His speech hinted at an expectation of paying it forward, but what does that mean? To take a job in a certain sector?  To earn a certain income so you can donate back to a scholarship fund?  To dedicate your career to service?  
While I love the generosity, it's not a gift if it has strings.  The recipient may or may not look at their career any differently than if they had their debt to repay.

And to Exfactor's point, I think the college culture will be a more important contributing factor to whether or not students pay it forward and what that looks like.

Hey J!!! I have been traveling so much (currently living not in China) that unfortunately, coming into the forum has not happened too much. However, I am back in SoCal for a month and why not spend some free time checking in  Tongue  With regard to the generous offer from Robert Smith, all I felt during the offer was a joy for each of the students and did not see a handcuffed expectation for the students to give back. However, I did feel a challenge to the highly successful Alumni in the front row who Mr Smith gave a direct challenge to step up and give back to a school that he felt has given a tremendous value to them. I would say that I agree with your overall position and also, did not see your position stated in the offering.

I do feel back for the class of 2018 & 2020!!!  Sad Big Grin


Hey! You sound great, hope you and the family are doing well.

I think his generosity is amazing and I do sincerely hope the students do pay it forward in some way.
Be well my friend!
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  American University Student Body President Wins Lawsuit sanantone 1 422 10-06-2019, 04:47 PM
Last Post: ChilliDawg
  Lawmakers Introduce Legislation Cancelling Student Loan Debt Life Long Learning 11 927 08-01-2019, 12:54 PM
Last Post: NolaRice
  These Americans fled the country to escape their giant student debt bluebooger 18 1,250 06-26-2019, 02:43 PM
Last Post: natshar
  17-year-old to graduate from Harvard days after graduating high school quigongene 0 397 05-21-2019, 03:10 PM
Last Post: quigongene
  Black NYU Student Kept from Attending Class sanantone 24 960 02-20-2019, 05:51 PM
Last Post: sanantone
  Thomas Edison State University Student Named as an ACE "Student of the Year" jsd 6 1,369 10-13-2018, 11:29 PM
Last Post: Toastmaster
  Student Loan Watchdog Quits, Blames Trump Administration allvia 7 599 08-28-2018, 01:18 PM
Last Post: cookderosa
  Class Rings? rowan555 15 1,614 04-28-2018, 10:07 AM
Last Post: Sparklette
  “Can I Make An Entire College Degree Out Of CLEP Credits?” jmeitrem 9 1,284 02-12-2017, 08:11 PM
Last Post: dfrecore
  When unpaid student debt leads to a smaller Social Security check bluebooger 7 1,118 12-31-2016, 01:13 PM
Last Post: jsd

Forum Jump:


Users browsing this thread: 1 Guest(s)