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Billionaire Widens Morehouse College-Debt Gift to Parents

  • Robert Smith’s pledge will amount to $34 milllion, school says
  • In May, Smith promised to cover debt for class of 2019
Robert Smith speaks at a Morehouse commencement ceremony.
Robert Smith speaks at a Morehouse commencement ceremony.Source: Morehouse
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Billionaire Robert F. Smith’s surprise pledge to pay off the student loans of Morehouse College’s class of 2019 will cost $34 million and will now include federal educational debt amassed by parents.

Students, parents and guardians received the details in an email Friday from the Atlanta school. Smith, the founder of private equity firm Vista Equity Partners, first disclosed the gift in May during the graduation ceremony.