As HELB frustrates Kenyan students, Billionaire pledges to pay off hundreds of student loans worth Ksh. 4 Billion

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HELB has been a crippling thorn on the backs of many unemployed youths today as the Government chase defaulters incessantly.

Faith in humanity is however restored in other parts of the world. These college students walked away with more than just diplomas, putting a little fuel in their bus.

Four hundred college seniors in the US state of Georgia just received a dream graduation present from billionaire investor Robert Frederick Smith: he paid off their student loans.

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“This is my class, 2019,” he said. “And my family is making a grant to eliminate their student loans.”

During his speech on Sunday morning to the historically black Morehouse College in Atlanta, Mr Smith stunned the class of 2019 with his pledge to wipe out their debt, thought to be worth up to Ksh 4 billion.

It was a rare foray into the limelight for a low profile tycoon who was virtually unknown on the national stage until a few years ago.

56 year old Mr Smith is the founder of the private equity firm Vista Equity Partners and one of the nation’s most prominent African-American philanthropists.

Recognized for his leadership in both business and philanthropy, Smith is the first African-American to sign the Giving Pledge, created by Bill and Melinda Gates and Warren Buffett as a promise to commit at least half one’s wealth to philanthropic causes.

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Here are some of the reactions from online users:

justinetzin This is exactly what the power and privilege of making money is all about. I hope that each one of that class of 2019 will one day have the financial freedom to make their own gesture to help others.

aglefebre We need more billionares like him. People with hearts. Faith in humanity recovered for the day

views.from.an.oustider I just hope that those alumni will continue to carry this as a tradition as he hoped they would

maritzoa This made me tear up so hard😍I love gestures like this. There is hope for humanity yet

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