Billionaire who pledged to wipe out Morehouse College grads' loans extends offer to their parents

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Billionaire who pledged to wipe out Morehouse College grads' loans extends offer to their parents

Samson X Horne | Saturday, September 21, 2019 3:42 p.m.

Atlanta Journal-Constitution via AP

Robert F. Smith, left, laughs with David Thomas, center, and actress Angela Bassett at Morehouse College on Sunday, May 19, 2019, in Atlanta.

Remember back in May when billionaire Robert F. Smith promised to pay off nearly 400 Morehouse graduates’ student loans?

That endeavor was going to cost around $34 million, according to the Washington Post.

Now, he’s added to his tab by extending that offer to their parents as well.

The billionaire who promised to pay off student loans for an entire graduating class just pledged to pay off their parents' educational loans, too https://t.co/7FADGh2QB9

— Apostle (@Apostleg180) September 21, 2019

It wasn’t immediately clear what the new bill would be.

According to TIME Magazine, students, parents and guardians received the details in an email Friday from the historically black men’s school in Atlanta.

The average Morehouse student graduates with anywhere from $35,000 to $40,000 in student loan debt, according to a press release from the school.

Smith, who is a tech executive, has a net worth of $6 billion, according to the Bloomberg Billionaire Index.

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