was receiving for promising to pay off the debt for all of Morehouse College’s graduates in the 2019 class. In a begrudging acknowledgement that Smith’s gift, estimated at $40 million dollars, “was an act of generosity,” thedevoted most of its ink to the complaint that his philanthropy functioned to mask the failure of a tax policy that benefited him, much like the earlier example of Andrew Carnegie giving away millions to build libraries across the country.
And what if that loophole were closed, and the government reaped the more than $15 billion it’s estimated would be generated over a decade? Would the money go toward making a college education more affordable? Would it be used to boost Pell grants or other investments that could increase the equity or improve the quality of education? Or would it go toward building a wall on the Southern border? Or throwing a bigger July 4...
Robert Smith’s one gift won’t significantly reduce student debt, but philanthropy dedicated to that purpose, one institution at a time, could. Imagine if college presidents across the nation persuaded their donors to pledge their billions in gifts to endowed scholarships for financially needy students rather than to build indoor football practice facilities or lazy rivers in student recreation centers.
And no one, not unscrupulous parents (we certainly met a few on the news lately) and not “financial aid” officers care because they are not the ones left holding the bag...
I was flabergasted when my daughter went to FSU (100% paid by me) and many of her fellow students took lavish loans amounts to pay for vacations or buy expensive clothes and shoes. Give me a break. That dog don’t hunt.
The tuition loan problem will never go away until better controls are in place to screen out real needs from wanton greed. When I went to college partially supported by Pell Grants I never had “extra money” to pay car payments, apartment rent or take a “gap semesters ein Europe”
I would agree and disagree. Criticizing him specifically for that gift is somewhat raw. However, that we should beg for money for the next 10 to 1,000 years seems like a slippery slope to… Where we are: Waiting for billionaires to save us from their iniquity.
Forbes gets everything wrong that doesn't involve public services being confined to the few crumbs that are thrown by rich philanthropists
I applaud you for this article! It amazes me that a good deed was criticized! He blessed and touched lives in many ways. The critics sometimes forget they haven’t invested a dime in helping people who are really in need!
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Philanthropist pledges millions to clear Morehouse grads' student debtThe Vista Equity Partners founder told 396 new alum of the historically black college that he'll payoff their school loans — an estimated debt of $40 million. White privilege? 💝🥇🤟🏼 NBCNews Tough to decide to work/save or accumulate college debt; never know who will pay it off, a billionaire or Elizabeth Warren
Source: NBCNews - 🏆 10. / 86 Read more »
What to know about Robert F. Smith, the man paying off Morehouse grads' student loansThe 56-year-old billionaire investor is the richest black person in the United States. We need to know nothing. He is going to heaven for sure. He put his money where his mouth is unlike some other people. Historically Black College, bla bla bla bla bla,,,,,,
Source: CNN - 🏆 4. / 95 Read more »
Philanthropist pledges $40 million to clear Morehouse grads' student debtThe Vista Equity Partners founder on Sunday pledged to pay off loans for 396 new graduates of the historically black college. True billionaire doing true billionaire things Wow. Now that is cool beans Wow!!!!!!
Source: NBCNews - 🏆 10. / 86 Read more »
Robert Smith’s Road To Paying Off Morehouse Graduates’ Loans Started With His Own Graduation SpeakerRobert Smith’s road to paying off Morehouse graduates’ loans started with his own graduation speaker by nathanvardi
Source: Forbes - 🏆 394. / 53 Read more »
Analysis | Robert F. Smith’s Morehouse commencement speech embodied leadership in actionMany people give graduation speeches about changing the world. Smith actually did something that could. What an amazing story and how many lives Mr. Robert F. Smith has changed forever. Algunos,(PRIAN), le llamarían, Populista!!!!! no? la neta, poco seso!!!! pilicampuzano1 fayescas PcAlexa A good and awesome American.
Source: washingtonpost - 🏆 95. / 72 Read more »
Billionaire Robert F. Smith pledges to pay off Morehouse College Class of 2019′s student loansThe surprise announcement left the graduates crying and jumping for joy. This is wonderful. We need more of such gestures from more of such men and women What's next? Free loans for everyone? Stopfreeschoolnow Iran is the world's largest terrorist country with drugs and terrorist training facilities We hope that American newspapers will present the crimes of the regime of Iran and the Revolutionary Guards in Iraq through their terrorist militias
Source: washingtonpost - 🏆 95. / 72 Read more »
Billionaire during commencement address: I'll pay off all your student debtRobert E. Smith addresses the graduates. Billionaire investor Robert E. Smith earned some stunned looks on Sunday during his commencement address at Morehouse College. Bernie King, daughter of Martin Luther King Jr., applauded the move and noted her father attended the Atlanta college. Sounds racist That was a very kind gesture, he will continue to prosper because of his generosity.... What a wonderful gesture! Isn’t that how it’s suppose to work? When you have the means give voluntarily. It would be great if more people would emulate him
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A Billionaire Said He'll Pay All Of The Morehouse College Class Of 2019's Student DebtBillionaire Robert F. Smith Said He'll Pay All Student Debt Of Morehouse College Class Of 2019 Robert.... you are a WONDERFUL man. 🙌🏼🙌🏼
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Who’s Robert F. Smith, the billionaire paying off Morehouse College students’ loans?Robert F. Smith’s gift of paying off the student loans of Morehouse College’s 2019 graduating class stunned the students and faculty. The gift is estimated at $20 million to $40 million. Smith is the nation’s richest African American — ahead of Oprah Winfrey — with a net worth of $5 billion. This is huge, it shouldn’t go under the radar. This guy isn’t looking for outside accolades. He’s an accomplished man. The way he blended his words from this to THAT, was the best announcement I’ve ever listen to. Then the reaction. I cried. That is a beautiful thing Robert F.Smith did for the Morehouse grad 🎓 class of 2019 ,and I hope they all return the favor back to a needie person somewhere forward down the road wtg brother Smith 👍
Source: latimes - 🏆 11. / 82 Read more »
Atlanta college graduation speaker pledges to pay off students' debtBillionaire investor Robert Smith surprised graduating students at Morehouse Col... 👏🏼👏🏼👏🏼 there must be a more intelligent way to offer the best possible education. and who will subsidize the salaries of the best teachers? after all, the popular ' if you can't do, you teach' is wrong.
Source: Reuters - 🏆 2. / 97 Read more »