What Happens When a Billionaire Swoops In to Solve the Student-Debt Crisis
“According to a report from the Center for American Progress, black students are more likely to take out student loans than their white peers, and nearly half of black borrowers default on their student loans. One Morehouse graduate told the Associated Press that he had $200,000 in student debt, and that when Smith announced the gift, ‘we all cried. In the moment it was like a burden had been taken off.’ By eliminating these graduates’ debt, Smith is very directly changing their future.”