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The guest speaker at the launch ceremony of Morehouse College announced a grant on Sunday to eliminate student debt from all graduates of the 2019 class.
The surprise gift of billionaire Robert Smith in front of 400 outgoing seniors could be worth about 40 million dollars, officials said.
"My family will create a grant to eliminate your student loans," Smith said, according to WXIA-TV. "You, the great men of Morehouse, are bound only by the limits of your conviction and your creativity."
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Tonga Releford, whose son Charles Releford III is a member of the 2019 promotion, has estimated the total of his student loans at $ 70,000, according to the Atlanta Journal-Constitution.
"I feel like it's Mother's Day again," she said.
The announcement sparked the biggest screams of the morning.
When Dr. King said that "the bow of the moral universe was bending to justice," he was not saying that he was bending about himself. we chose to partner and push, "Smith told the president. ceremony, according to WXIA.
MOTHER, HIS COLLEGE AND HIS COLLEGE, SURPRISE CEREMONY
Smith received an honorary doctorate from Morehouse in the beginning.
Morehouse College is an all-male, historically black, Atlanta-based university.
Smith is the founder and CEO of Vista Equity Partners, a private equity firm that invests in software, data and technology-based businesses.
He is a graduate of Cornell and Columbia Business School.
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In January, Morehouse announced a $ 1.5 million donation from Smith for scholarships and a new park on campus.
Associated Press contributed to this report.
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