Black Billionaire to Pay Off Student Loan Debt of Morehouse College’s Class of 2019

Robert F. Smith, a billionaire who is CEO of Vista Equity Partners, a software and technology investment firm, was selected to give the commencement address and receive an honorary degree at Morehouse College in Atlanta.

During his address, Smith stated that being on the bus to success is not enough. “You want to own it, you want to drive it, and you want to pick up as many people as you can along the way.” He then added, ““I’m putting some fuel into your bus.”

Smith told the graduates that he would commit up to $40 million dollars to eliminate the student debt of all 396 graduates of the Class of 2019. Some graduates reported that they had student debt of as much as $200,000. If the total reaches $40 million, it will be the largest gift in the college’s history and one of the largest gifts ever to a historically Black college.

A video of Robert F. Smith commencement address may be viewed below.

Related Articles

Leave a Reply

Get the JBHE Weekly Bulletin

Receive our weekly email newsletter delivered to your inbox

Latest News

Fayetteville State University Establishes Transfer Agreement with Wake Technical Community College

The new partnership will provide qualified students from Wake Technical Community College with guaranteed admission to Fayetteville State University upon completion of their associate's degree.

Three Black Scholars Taking On New Faculty Positions

The faculty appointments are James Haywood Rolling Jr. at Syracuse University in New York, Elias Towe at Carnegie Mellon University in Pittsburgh, and Roderic Pettigrew at Texas A&M University.

Howard University Receives Record-Breaking 36,000 Applicants for Class of 2028

The class of 2028 applicant pool at Howard University increased by 4,000 applications compared to last year's class of 2027. This year, the university's acceptance rate was roughly 31 percent, down five percentage points from last year.

Laquala Dixon Honored by National Association of Student Personnel Administrators for Service as HBCU Liaison

A member of the NASPA since 2013, Dr. Dixon was honored with the 2024 Sankofa Award for her commitment and contributions to the organization as the HBCU liaison for the Black Diaspora Knowledge Community.

Featured Jobs