Black Billionaire promised to spend $ 40 million on new graduate’s student loan

Robert Frederick Smith is black and he is a billionaire. He made his money from investing in Technology, Data, and software.  Robbert Smith is the founder of and CEO of Vista Equity Partners, and he was the Morehouse University’s commencement speaker on May 19, 2019.   

During the speech; he announced that he has set aside money to eliminate student debt for the 2019 graduating class at Morehouse College.  Morehouse graduating class owes about $40 million dollars in student loan debt. And Mr. Smith and his family pledged to take care of it.

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.” Mr. Smith said on the podium.

Frederick Smith’s is 56 years old, his net worth is about $ 5 billion, and he started Vista Equity Partners in 2000.  Vista Equity Partners has over $ 46 billion under management. 

Where you live shouldn’t determine whether you get educated. Where you go to school shouldn’t determine whether you get textbooks, the opportunity you access should be determined by the fierceness of your intellect, the courage in your creativity and the grit that allows you to overcome expectations that weren’t set high enough.” He added

Every Morehouse College 2019 Graduate is getting their loan paid off

Alexandria Ocasio twitted “ Every Morehouse Class of 2019 student is getting their student debt load paid off by their commencement speaker”. The students were overjoyed and they are very appreciative of Mr. Smith’s pledge.

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