Morehouse College class of 2019 got a nice surprise during graduation — their commencement speaker, Billionaire Philanthropist Robert F. Smith of Vista Equity Partners is pledging to pay off Morehouse College Class of 2019′s entire debt of the 400-member student loans. Which is estimated to be worth around $40 million.
Student lending nationally reached the highest levels ever this year; more than 44 million borrowers collectively owe $1.5 trillion in debt.
He leveraged his wealth to make room for others to start fresh and establish their own. Debt is one of the main inhibitors in wealth generation, something that the black community is almost at a deficit in.
In his commencement remarks to the graduating class of 2019, he shared:
“The most elite credentials that America has to offer is the degree you earn today”
But I don’t want you to think of it as just a document that hangs up on the wall. Which reflects what you’ve accomplished up till now.
That degree is a contract — a social contract — that calls on you to devote your talents and energies to honoring those legends on whose shoulders you and I stand.
We are the products of a community, a village, a team.”
Always pursue purpose over paychecks.
Always pay it forward even if you don’t have much to give.
Give what you got and create abundance for others.
Robert F. Smith is leadership in action.
Are you a Student who still has his student loan? Wouldn’t it have been nice to have been at the right place and at the right time?
But, do write in your comments to congratulate the students who can lead a better life and look forward to a bright future.