Austin Billionaire Makes Good On Promise To Morehouse Students
Back in May, during grad season, we told you about the amazing gift Austin billionaire Robert F. Smith gave to the class of 2019 at Atlanta's Morehouse College: A promise to pay off all their student debt.
Well Mr. Smith and his family have followed through on the promise he made according to KXAN. On Friday, the Vista Equity Partners founder and CEO, on behalf of his family donated $34 million to pay off not only the student loans but the parents' loans of the Morehouse Class of 2019 as well!
According to the report, Smith's donation was used to start its new Morehouse College Student Success Program, which “is a scholarship, loan debt, research and educational initiative established by the Board of Trustees as a national investment strategy to curb student loan debt and help graduates to prosper faster”.
More than 400 students, parents and guardians who took out any of six different types of loans will benefit according to Morehouse. How awesome is that?
Smith is the richest African American man in the country with a net worth of $5 billion dollars according to the Austin Business Journal.