Philanthropist pledges millions to clear Morehouse grads' student debt

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By David K. Li and Rima Abdelkader

Billionaire tech investor and philanthropist Robert F. Smith stunned graduates of Morehouse College in Atlanta on Sunday, pledging tens of millions of dollars to wipe out their student-loan debts.

Wild cheers and astonished looks greeted Smith after he made the gift during his commencement address at the famed, all-male historically black college.

“My family is going to create a grant to eliminate your student loans,” Smith told graduating seniors. “You great Morehouse men are bound only by the limits of your own conviction and creativity.”

source: nbcnews.com