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Billionaire offers to pay off KSh 4 billion debt for graduating students

Kenyan Business Feed by Kenyan Business Feed
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Clearing students’ loan after graduating from university or college can be a stressful obligation, but what if someone could offer to settle that burdensome debt on your behalf?

That was precisely what happened to a graduating class of 2019 at Morehouse College when Robert Smith, a billionaire investor and philanthropist, offered to wipe clean all their college debts amounting to a jaw-dropping KSh 4 billion ( US$ 40 million).

READ ALSO: Billionaire says his wealth can’t replace Jesus, reiterates every human is broken

Billionaire offers to pay off KSh 4 billion debt for graduating students

Robert Smith, founder and CEO of Vista Equity Partners, promised to settle students’ debts amounting to KSh 4 billion ( US$ 40 million). Some 400 students to benefit. Photo: Morehouse College.
Source: Twitter

READ ALSO: Nakuru: Mbunge David Gikaria akamatwa kwa tuhuma za wizi wa ardhi na kumzaba afisa wa polisi kofi

Smith made the unprecedented announcement on Sunday, May 19, when he visited the all-male college in Atlanta, United States (US), to speak to the graduating class, according to Aljazeera and other international news outlets privy to the multi-billion pledge.

“”On behalf of the eight generations of my family that have been in this country, we are going to put a little fuel in your bus

My family is making a grant to eliminate their student loans,” Smith, founder and CEO of Vista Equity Partners, told a gathering of 400 graduating seniors.

READ ALSO: Man who believed he was oldest human in the world dies at 123 years

The pledge reportedly caught the students and the college staff by a huge surprise and they took a moment to decipher what Smith had just said before they all erupted in thunderous applause and celebration.

Morehouse College described Smith’s donation as the largest gift ever received by the American institution.

The amount is enough to clear more than half of what some 60,000 plus beneficiaries owe Kenya’s Higher Education Loans Board (HELB).

As of May 2019, the outstanding HELB debt was estimated at KSh 6.5 billion, amount that the board has been struggling to collect using all means possible, including contacting guarantors of the beneficiaries and threatening to blacklist defaulters.

READ ALSO: Pastor Kanyari flaunts colourful mansion years after KSh 310 expose

The money may seem too much to just donate with nothing to expect in return, but not for billionaires who believe there is more to life than having a lot of money.

That was recently made clearer by Singapore’s richest man, Philip Ng Chee Tat, who equally took the world by surprise when he said living without Jesus and focusing on material things is a sad way to live.

In an interview with Belivers Portal, Philip, an ardent Christian, argued all humans are broken and the piece that makes them whole is Jesus Christ.

“I have discovered all of us are broken, we all have a missing piece. For me, I discovered the missing piece was God in Jesus Christ,” he said.

Do you have a life-changing story you would like us to publish? Please reach us through [email protected] or WhatsApp: 0732482690 and Telegram: Tuko news.

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Source: Tuko.co.ke



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