Source: https://roguerocket.com/2019/05/20/billionaire-pledges-to-pay-loan-debt-of-this-years-morehouse-college-graduates/
Summary: Robert F. Smith, the richest black man alive, just offered to pay off student debt for 2019 graduates of Morehouse College. It is expected to cost over $40 million dollars, and helping over 400 graduates. One of the graduates named Aaron Mitchom said that he had created a spread sheet to see how much debt he owed and how long it would take to pay it off. According to his calculations, he had over 200,000 in debt and take about 25 years to pay off. Smith has done many other amazing contributions like donating $50 million to Cornell University, $20 million to the National Museum of African American History and Culture, and $2.5 million to the Prostate Cancer Foundation.
Analysis: I chose this story because in Algebra, we just had a project where we calculated/estimated what our hypothetical student debt would be, how much interest was, and the monthly payments needed to pay it off. Student debt has become a major issue in the U.S because it has risen to over 1.5 trillion according to the Federal Reserve system. The author was not biased in this and primary only stated facts, but typically this website leans a tad bit left. I can relate this to the philanthropy theory in the progressive era.
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