Billionaire Pays off Student College Loans
American billionaire Robert F. Smith pays student loans of nearly $40 million for 400 students.
Mr. Robert F. Smith who started the Investment Firm; Vista Equity Partners and who is valued at nearly $5 Billion is the richest black man in the US has announced at the graduation ceremony for Morehouse college located in Atlanta, GA which is an all male college mainly for young black students, that he will be paying off all of there college fees and debts which nearly come up to $40 million for about 400 students.
This announcement was made as a surprise and no one knew it was coming, even the President of the school was unaware of this great charitable donation and only a few of Mr. Smiths close business associates and family knew he was doing this.
Once the announcement was made the crowd which was filled with students, parents and teachers all gave a standing ovation and cheered, students who spoke to the media after the event said that they had student loans and debt from $30,000 up to $90,00 for some and that this generosity would give them a boost in life and creating great opportunities, and promised to one day come back and pay it forward by doing the same for future generations.