The billionaire who dished out $34 million to pay off student loans for an entire college class says America’s student loan system is a ‘catastrophe’

Robert F. Smith, the billionaire software investor who spent $34 million to pay off student loans for an entire college class, called American’s $1.5 trillion in student loans “atrocious” in an interview with Ford Foundation president Darren Walker.
In September, Smith expanded that pledge when he also promised to pay off those students’ parents’ outstanding educational debts.
Student-loan debt in the US is at an all-time high of $1.5 trillion, according to Student Loan Hero.
Smith has a net worth of $6.08 billion, Business Insider previously reported.
Visit Business Insider’s homepage for more stories.

It’s hard to pay off read more >>>