Student Loans Cancelled for an Entire Graduating Class

[Jonathan Whatley]

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.