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A billionaire's vow to pay Morehouse graduates' loans isn't a surprise move, it's just the newest trend in the student-debt crisis

28 days ago   |   By Business Insider

Private-equity tycoon Robert F. Smith vowed Sunday to donate a reported $40 million to pay off student loan debt for Morehouse College's graduating class of 2019.
While the rich have given universities generous gifts for decades, billionaires are addressing the ballooning student-debt crisis directly by paying the tuition of incoming students or writing checks for recent grads.
Home Depot co-founder Ken Langone recently donated $100 million to help make NYU a tuition-free medical school.
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Investor Robert F. Smith, who's ranked by Forbes as...
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Meet the Billionaire Paying Off the Student Loans of Morehouse College's Class of 2019

Meet the Billionaire Paying Off the Student Loans of Morehouse College's Class of 2019

28 days ago   |   By Fortune

Don't be too hard on yourself if you've never heard of Robert F. Smith, the billionaire who gave 400 graduates of Morehouse College the best graduation present of all time Sunday.
A tech executive and philanthropist, Smith has managed to largely stay under the radar despite his riches. That changed when he announced during his commencement speech at the school that he would be paying off the student loans of all of this year's graduates.
“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,” said Smith. “This is my...
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Robert F. Smith: Who is the billionaire paying off Morehouse graduates' student loans?

28 days ago   |   By ABC

Robert F. Smith has a history of giving, even donating to music education and entrepreneurship programs in Austin, Texas, where he has a home.
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