The Power of Privately Held Wealth: An Interview with Robert Smith on Alleviating Student Loan Debt

Billionaire Robert Smith’s Generous Gift Changes Lives of Morehouse College Graduates

In a heartwarming act of generosity, billionaire Robert Smith made headlines in 2019 when he announced during his commencement speech at Morehouse College that he would be paying off all student loan debt for the entire graduating class. This incredible gesture amounted to $34 million and cleared the debt of all 396 students, providing them with a fresh start as they entered the workforce.

In a recent interview with Smith for “Masters of the Game” on TheGrio Cable Network, he expressed his deep belief in the potential of these young Black graduates. Smith shared that his motivation behind the gift was to let the students know that someone believes in them, a powerful message for any young person, especially in the Black community.

But Smith’s generosity didn’t stop with the payment of their student loans. He continues to stay connected with the students, offering advice and support through monthly calls and ongoing conversations. It’s clear that Smith’s gift was not just a one-time act of kindness but the beginning of a lasting relationship with these graduates.

This story serves as a shining example of how private wealth can be used to make a real difference in the community, particularly in uplifting young Black individuals. Smith’s actions have undoubtedly changed the lives of these Morehouse College graduates in profound ways, setting them on a path towards success and financial freedom.