The keynote speaker at Morehouse College' commencement ceremony announced a grant Sunday wiping out the student debt of the entire 2019 graduating class.
Billionaire Robert Smith’s surprise gift in front of nearly 400 graduating seniors may be worth about $40 million, officials said.
"My family is going to create a grant to eliminate your student loans," Smith said, according to WXIA-TV. "You great Morehouse men are bound only by the limits of your own conviction and creativity."
Smith was the recipient of an honorary doctorate from Morehouse during the commencement.
Morehouse College is an all-male historically black college located in Atlanta.
Smith is the founder and CEO of Vista Equity Partners, a private equity firm that invests in software, data and technology-driven companies.
The keynote speaker at Morehouse College’s commencement ceremony announced a grant Sunday wiping out the student debt of the entire 2019 graduating class.