Graduates react after hearing billionaire technology investor and philanthropist Robert F. Smith say Sunday he will provide grants to wipe out the student debt of the entire 2019 graduating class at Morehouse College in Atlanta. (Steve Schaefer/Atlanta Journal-Constitution/AP)Billionaire Robert F. Smith stunned Morehouse College’s Class of 2019 when he pledged over the weekend to pay off their student loans. Morehouse officials said the college is figuring out the logistics and calculating the exact amount of student debt that will be erased. The pledge covers only loans the students took out themselves, not those taken by their parents, according to Smith’s representative. The number shook Smith, according to the person familiar with Smith’s thinking.

Source: Washington Post May 20, 2019 22:07 UTC