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He’s not helping any of them. The ones who worked, got scholarships, or made sacrifices to pay their debt while in school or take out very little will be resentful. The irresponsible ones who took out huge debts and partied in Bermuda on Spring Break will learn that someone will eventually bail them out for their irresponsible behavior.
“A cynic is a man who knows the price of everything, and the value of nothing.”
― Oscar Wilde
You can take a free online video course at Hillsdale College about the Constitution. You might find it too right wing, though, because it has facts and history, not propaganda and feeeeeeelings.
Student loan debt is a major economic hurdle in the USA and it's an issue that few other developed nations face, because the cost of higher education in those countries is less burdensome.
It could be in the $10 million range, according to some estimates. "There were 396 graduates in the class, and tuition, room and board, and other costs run about $48,000 per year", said Morehouse President David Thomas.
Thomas said the gift will open the door for students to follow their chosen career paths without being saddled by debt.
“It will allow them to more quickly go toward what they are passionate about,” he said. “When you move toward what your passion is, you can make your greatest contribution to the world.”
Billionaire Robert Smith, graduate of Cornell, said he wanted students to understand that part of receiving this gift is that they will also think about taking care of the people behind them when they are able.
“Now, I know my class will make sure they pay this forward,” said Smith, who received an honorary doctoral degree Sunday. “I want my class to look at these [alumni], these beautiful Morehouse brothers, and let’s make sure every class has the same opportunity going forward, because we are enough to take care of our own community. We are enough to ensure we have all the opportunities of the American Dream.”
He encouraged the graduates to enjoy their diplomas, but he also impressed upon them the responsibility to do great things with it.
“The degree you earn today is one of the most elite credentials that America has to offer,” he said. “But I don’t want you to think of it as a document that hangs on a wall and reflects what you’ve accomplished up till now. No. That degree is a contract — a social contract — that calls on you to devote your talents and energies to honoring those legends on whose shoulders you and I stand.”
Student loan debt is a major economic hurdle in the USA and it's an issue that few other developed nations face, because the cost of higher education in those countries is less burdensome.
Not for nothing. Good on him, and good for the graduating class. For me. This is what I call social justice.
But philanthropy is not an answer to student debt.
In fact he is just using his money the way he likes, not for societies betterment. The fact that he is a billionaire is the problem itself.
But Americans are easily seduced by billionaire kindness.
It sure was an answer for the individual graduates of this class...
One day, an old man was walking along a beach that was littered with thousands of starfish that had been washed ashore by the high tide. As he walked he came upon a young boy who was eagerly throwing the starfish back into the ocean, one by one.
Puzzled, the man looked at the boy and asked what he was doing. Without looking up from his task, the boy simply replied, “I’m saving these starfish, Sir”.
The old man chuckled aloud, “Son, there are thousands of starfish and only one of you. What difference can you make?”
The boy picked up a starfish, gently tossed it into the water and turning to the man, said, “I made a difference to that one!”
Neither. I learned a lot paying off my loan. I was pointing out a fact.
And if a philanthropist offered to pay off your school loan you’d look at them scornfully & tell them to p@@ off? No you wouldn’t, you’d accept it & be grateful & maybe it would inspire you to help others out. Instead, you get to be smug & indignant about others.
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