Billionaire Robert F. Smith Will Pay Off the Student Debt of Morehouse College's 2019 Graduates

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Billionaire Robert F. Smith Will Pay Off the Student Debt of Morehouse College's 2019 Graduates

Nigel: "This guy will never be able to make another commencement speech in his life."

(Marcus Ingram / Contributor/Getty Images)

Student loan debt in America is at an all-time high of more than $1.5 trillion, according to Federal Reserve data,  but for 396 graduates of Morehouse College, the financial burden of their education is no longer an issue.

During his commencement speech for the college's 2019 class on Sunday, Billionaire Robert F. Smith announced to those in attendance he intended to pay off the student loan debt for this year's graduates from the all-male, historically black college in Atlanta, GA.

“This is my class, 2019,” he said to the assembled graduates. “And my family is making a grant to eliminate their student loans.” He later added, "Let’s make sure every class has the same opportunity going forward, because we are enough to take care of our own community. We are enough to ensure we have all of the opportunities of the American dream, and we will show it to each other through our actions and through our words and through our deeds.”

Mr. Smith is a very generous man. 

Nigel:

"The first thing that came to mind when I saw this story was that this man will never be able to give another commencement speech in his life! Everyone in attendance will be expecting him to pay off their student loan debt."

Hammer:

"It's like Oprah when she gave away cars. Every guest from that point on was looking under their seat, searching for their keys."

Nigel:

"And this is just a tiny college in Atlanta -  400 students in the graduating class  - and the total of their student loan debt all in was $40 million. One college. Democrats want to do this for the entire country!"

Click the link below to hear more from Hammer and Nigel in today's edition of "Is This Anything?"

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