Smith's generosity is noteworthy, and targeted at a group—black men—who need it most. But student debt is a systemic problem, and requires a systemic fix.
Of note here: 's tuition-free college plan would allow private HBCUs and MSIs to opt-in
It's dangerous to rely on the generosity of billionaires to solve the student debt crisis, writes
Congratulations to the Morehouse class of 2019 on their future as one of the most-studied natural experiments in higher education. (And to their classmates in the control groups of 2018 and 2020.)
“The thing about generosity, though, is that it is not a salve for systemic problems,” writes ⁦
"The #gift is, of course, significant in a #Political sense, coming at a time when #candidates for president & other #Politicians are seriously mulling #debt cancellation; but it is also significant for these black men at #Morehouse in particular" #MOOC
Some important perspective on this Morehouse news, from
Robert Smith, a billionaire philanthropist, surprised Morehouse College graduates at commencement on Sunday morning by announcing he would pay off their student loans.
"One billionaire can only help so many, and more than 40 million people in the United States have student loans. And no upon-graduation gift can help the millions of young people who never complete." Important, from
A philanthropist surprised Morehouse College graduates at commencement by announcing he would pay off their student loans. But one person—even a very generous one—can only do so much. ⁦