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).
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.
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.
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.
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