Commencement Speaker at Morehouse to Pay off Class of 2019's Student Loans

Recent graduates of Morehouse college have been relieved of the headache some call student loans all thanks to billionaire Robert F. Smith.

Smith who is the CEO at Vista Equity Partners was chosen as the Commencement speaker at Morehouse College. He also received an honorary doctorate degree at the college and pledged to pay the student debt for the entire graduating class of 2019 at Morehouse.

"On behalf of the eight generations of my family that have been in this country, we're gonna put a little fuel in your bus. This is my class, 2019. And my family is making a grant to eliminate their student loans," Smith said to nearly 400 graduating students who cheered when they heard the news. "I know my class will make sure they pay this forward…and let’s make sure every class has the same opportunity going forward because we are enough to take care of our own community.”

Additionally, Smith donated $1.5 million to the college as a gift — including the student debt promise estimating at $40 million.