Speaker Tells Graduates He's Paying Off Their Loans

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Billionaire Robert F. Smith, who received an honorary doctorate at Morehouse College’s Sunday morning graduation exercises, had already announced a $1.5 million gift to the school. But during his remarks in front of the nearly 400 graduating seniors, the billionaire technology investor and philanthropist surprised some by announcing that his family was providing a grant to eliminate the student debt of the entire Class of 2019. … The gift has been estimated at $40 million.

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