Graduating seniors at Morehouse College in Georgia got a big surprise Sunday that made an already memorable day even better. In the middle of his commencement address, billionaire investor Robert F. Smith said he would pay off the student loans for the entire graduating class. Smith announced: “My family is going to create a grant to eliminate your student loans. You great Morehouse men are bound only by the limits of your own conviction and creativity.”
… Paying off all the student loans of the nearly 400 graduating seniors in the all-male college adds up to around $40 million. Smith is ranked as the 355th richest person in the world by Forbes with an estimated net worth of $5 billion.