Connect with us

Featured

African-American Billionaire, Robert Smith To Pay $40m Student Loans Of Moorehouse College Graduates

Published

on

Billionaire investor and philanthropist Robert F. Smith has shocked many graduating students of famous Moorehouse College when he announced that he would paying off all their student loans!

For those who know the US system, student loans are the biggest burdens that many graduates face and battle immediately leaving school and this gesture was applauded by all present including Morehouse President David A. Thomas, who learned of the gift at the same moment as the students.

It’s hard to estimate the cost of Smith’s gift to the 2019 graduates of the all-male, historically black college, but 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, Thomas said.

The audience exploded in chants of “MVP!” after Smith’s announcement. Thomas said that could have either stood for Most Valuable Player, or as Thomas prefers, Most Valuable Philanthropist, according to report by Washignton Post.

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.”

Smith 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.”

Smith, founder of private equity and venture capital firm Vista Equity Partners, is worth about $5 billion, according to Forbes He was the wealthiest African American in the country in 2018.

He is the only African American to sign the Giving Pledge, the initiative created by billionaires Bill and Melinda Gates and Warren Buffet in 2010 to “help address society’s most pressing problems” by shifting “the social norms of philanthropy toward giving more, giving sooner and giving smarter.”

He pledged to give away half his net worth to causes that support equality for African Americans and protect the environment.

“I will never forget that my path was paved by my parents, grandparents and generations of African Americans whose names I will never know,” he wrote. “Their struggles, their courage, and their progress allowed me to strive and achieve.”

 

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured

Stay Away from CBT Centres, JAMB Warns Parents, Threatens Arrest

Published

on

By

As this year’s Unified Tertiary Matriculation Examination (UTME) begins on Friday, the Joint Admissions and Matriculation Board (JAMB) has vowed to arrest parents found near any Computer-Based Test (CBT) centre during the 2024 UTME exercise.

The directive was issued at the final briefing of the CBT centre owners, which was held virtually on Wednesday, 17th April, 2024.

The spokesman for JAMB, Fabian Benjamin, said this directive became necessary following the intrusive disposition of some parents during the Board’s previous exercises.

Benjamin, who quoted JAMB Registrar Prof. Is-haq Oloyede, said any parent, who disobeys the order would not only be arrested but his ward would also be disqualified from sitting for the examination.

Oloyede explained that this measure became necessary as it has been discovered over time that many of these intruding parents are facilitators of examination infractions while others have, by their actions, disrupted the Board’s examinations in the past.

He added that some miscreants also disguise as parents to infiltrate the centres to perpetrate all forms of infractions.

“The Board’s helmsman noted that going by the extant national policy on education, a candidate for the examination must have attained the age of 17 years.

“Therefore, it is evident that these parents had not allowed their wards to pass through the classes as defined in the document, hence the desperation to follow their wards to the examination venue with the aim of compromising examination officials.

“At any rate, it is clear to any discerning observer that these parents deserve to be sanctioned as they had obviously ‘smuggled’ underage children into the ranks of those scheduled to sit the examination,” the Board note through a statement.

Furthermore, the Registrar said all arrangements have been concluded for the conduct of the 2024 UTME, which will be held in over 700 CBT centres across the nation.

He disclosed that the Board expects a seamless exercise but it has nevertheless made adequate provision to tackle any technical glitch that might occur in the course of the examination.

He, however, warned that if a session experienced any technical challenge, candidates in subsequent sessions would be allowed to sit their examination as scheduled while the candidates in the challenged session would be rescheduled for the last session for the day or the following day or even further depending on the centre schedules.

Continue Reading

Featured

Oyo Govt Demolishes Operational Base of Yoruba Nation Agitators

Published

on

By

The Oyo State government, on Wednesday, demolished a building serving as the operational base of the Yoruba Nation agitators led by Modupe Onitiri-Abiola, in Ibadan.

Onitiri-Abiola, one of the widows of late Bashorun M.KO Abiola, had declared the creation of the so-called Yoruba Nation in a video posted online, which has been widely condemned.

Last Saturday, some armed men in military uniforms invaded the Oyo State Secretariat, with the motive to forcefully take over the State House of Assembly, before they were dislodged by the combined efforts of police and troops for the Nigeria Army 2 Division..

Mr. Fatai Owoseni, Special Adviser on Security Matters to Governor Seyi Makinde, confirmed the demolition of the house located at Toye Oyesola Street in Ibadan South West Local Government Area.

Already, no fewer than 29 suspects – including a lecturer – arrested in connection with the foiled armed invasion were on Wednesday arraigned by the police before a Chief Magistrates’ Court in Ibadan.

In a case with charge number Mi/520c/2024 between the Commissioner of Police and the 29 suspects, they were accused of a seven-count charge of treasonable felony, unlawful society, illegal possession of firearms, and conduct likely to cause breach of peace.

Inspector Bakare Rasaq, the Investigative Police Officer (IPO) at the State Criminal Investigation Department, Iyaganku, Ibadan, said the offence contravenes, and is punishable under Section 516 of the Criminal Code, Cap 38, Vol. II, Laws of Oyo State of Nigeria, 2000.

Continue Reading

Featured

PDP BoT Queries Damagum, Anyanwu’s Continued Stay in Office

Published

on

By

The Board of Trustees of the Peoples Democratic Party has queried the continued stay in office of the party’s acting National Chairman, Umar Damagum, and National Secretary, Samuel Anyanwu.

Recently, many party members have raised concerns about the ongoing tenure of Damagum and Anywanwu in their respective positions.

Previously serving as the PDP National Deputy Chairman (North), Damagum assumed the role of acting National Chairman following the court’s suspension of the party’s National Chairman, Iyorchia Ayu, in March of the preceding year.

With the National Secretary being selected as the PDP candidate for the Imo State 2023 governorship election, the South zone has been grappling with nominating a replacement. Despite this, he, along with other party leaders, contested and retained the position of party secretary after losing to Governor Hope Uzodinnma.

The Punch

Continue Reading

Trending