NOEL KING, HOST:
All right. Robert Smith is a billionaire investor and philanthropist. He gave a commencement speech this weekend at Morehouse College, and he gave something else, too. Smith had already pledged a gift of $1.5 million to the historically black, all men's college in Atlanta. And then he said this.
(SOUNDBITE OF ARCHIVED RECORDING)
ROBERT SMITH: We're going to put a little fuel in your bus. Now I've got the alumni over there, and this is a challenge to you, alumni. This is my class - 2019.
(APPLAUSE)
SMITH: And my family is making a grant to eliminate their student loans.
(CHEERING)
STEVE INSKEEP, HOST:
Eliminate their student loans. He's speaking here to almost 400 graduates, pledging to pay off their debts. So this is a gift that could run into the tens of millions of dollars. It is a gift that came with some instructions. Here's Smith again.
(SOUNDBITE OF ARCHIVED RECORDING)
SMITH: Now, I know my class will make sure they pay this forward. And I want my class to look at these alumnus, these beautiful Morehouse brothers, and let's make sure every class has the same opportunity going forward.
KING: Morehouse College President David Thomas told CNN the gift gives the students the, quote, "liberty to follow their dreams, their passions." Transcript provided by NPR, Copyright NPR.
