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U.S. NEWS Monday 20 May 2019
Speaker stuns 2019 Morehouse

grads, to pay off student debt

By ERRIN HAINES WHACK that "every class has the in going into teaching, for
AP National Writer same opportunity going example, but leave with
A billionaire technology in- forward." an amount of student debt
vestor stunned the entire "Because we are enough to that makes that untenable,"
graduating class at More- take care of our own com- Thomas said in an interview.
house College when he munity," Smith said. "We are "In some ways, it was a lib-
announced at their com- enough to ensure that we eration gift for these young Robert F. Smith, left, laughs with David Thomas, center, and ac-
mencement Sunday that have all the opportunities men that just opened up tress Angela Bassett at Morehouse College on Sunday, May 19,
he would pay off their stu- of the American dream. their choices."q 2019, in Atlanta.
dent loans __ estimated at And we will show it to each Associated Press
up to $40 million. other through our actions
Robert F. Smith, this year's and through our words and
commencement speaker, through our deeds."
made the announcement In the weeks before grad-
while addressing nearly 400 uating from Morehouse
graduating seniors of the on Sunday, 22-year-old
all-male historically black finance major Aaron Mi-
college in Atlanta. Smith, tchom drew up a spread-
who is black, is the Found- sheet to calculate how
er and CEO of Vista Equity long it would take him to
Partners, a private equity pay back his $200,000 in
firm that invests in software, student loans — 25 years at
data, and technology-driv- half his monthly salary, per
en companies. his calculations.
"On behalf of the eight In an instant, that number
generations of my fam- vanished. Mitchom, sitting
ily that have been in this in the crowd, wept.
country, we're gonna put "I can delete that spread-
a little fuel in your bus," the sheet," he said in an inter-
investor and philanthro- view after the commence-
pist told graduates in his ment. "I don't have to live off
morning address. "This is my of peanut butter and jelly
class, 2019. And my family sandwiches. I was shocked.
is making a grant to elimi- My heart dropped. We all
nate their student loans." cried. In the moment it was
The announcement imme- like a burden had been
diately drew stunned looks taken off."
from faculty and students His mother, Tina Mitchom,
alike. Then the gradu- was also shocked. Eight
ates broke into the big- family members, includ-
gest cheers of the morning ing Mitchom's 76-year-old
and stood up, applauding. grandmother, took turns
Morehouse said it is the over four years co-signing
single largest gift to the col- on the loans that got him
lege. across the finish line.
Smith, who received an "It takes a village," she said.
honorary doctorate from "It now means he can start
Morehouse during the cer- paying it forward and start
emony, had already an- closing this gap a lot soon-
nounced a $1.5 million gift er, giving back to the col-
to the school. The student lege and thinking about
debt for the class of 2019 a succession plan" for his
is estimated to be as much younger siblings.
as $40 million though no Morehouse College presi-
immediate total had been dent David A. Thomas
calculated yet. said the gift would have
Smith said he expected a profound effect on the
the recipients to "pay it for- students' futures. "Many of
ward" and said he hoped my students are interested

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