Atlanta — A billionaire technology investor and philanthropist says his family is providing grants to wipe out the student debt of the entire class at Morehouse College. Robert F. Smith made the announcement Sunday morning in front of nearly graduating seniors, eliciting the biggest cheers of the morning. The total debt the students have is still being calculated. If you look at any other film footage, you will see the students turning to each other.
Billionaire during commencement address: I'll pay off your student debt
Morehouse Commencement Speaker Reveals He'll Pay Off Class of Loans
He was being pursued by Justice Department prosecutors and Internal Revenue Service agents for potential tax crimes, according to four people familiar with the matter. Federal authorities have spent four years examining whether Smith failed to pay U. A portion eventually flowed through the offshore entities into a U. When the IRS catches mistakes on a return, taxpayers generally rectify the problem and reach a civil settlement. Prosecutors can bring criminal cases, however, against those who willfully fail to pay taxes or fail to declare their foreign assets. Smith is trying to persuade the Justice Department to forgo criminal charges and resolve his case with a civil settlement, according to three of the people.
Billionaire commencement speaker pledges to pay off graduates' student loans
Billionaire investor Robert F. Smith earned some stunned looks on Sunday during his commencement address at Morehouse College. He continued: "I've got the alumni over here. And this is a challenge to alumni.
Billionaire Robert F. Smith announced during Sunday's commencement speech at Morehouse College in Atlanta that he and his family would pay off the entire graduating class's student debt. 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.