US billionaire pledges to pay off Morehouse College graduates’ student loans

Sunday was already a day of joy and pride for the graduating class at historically black Morehouse College in Atlanta, Georgia -- and then it got a whole lot better. Robert F. Smith, an African-American businessman with a fortune estimated at $4.4 billion, told the new graduating class that he plans to pay off the entirety of their student debt: an estimated $40 million.