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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

robert f smith

  • 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 the 163rd richest person in the US with a net worth read more >>>

Source:: BusinessInsider.Com