ATLANTA — A 2019 Morehouse College graduate from Chicago is debt free after a billionaire paid off the student debt of his entire class.
Frank Lawrence, Jr. said he would have been $65,000 in debt if it wasn't for Morehouse College alumnus Robert F. Smith's donation. Smith made the announcement at Morehouse's commencement ceremony, where nearly 400 seniors were graduating from the all-male historically black college.
"I was very proud to see a man who was a leader, a billionaire, who felt like he could invest in me and my research and my future,"Lawrence Jr. said, "So it was amazing."
Lawrence, Jr. said he and other students had no clue that Smith was going to make a donation of this size. It's estimated to cost Smith up to $40 million.
Lawrence, Jr. does research about mental health in the U.S. and said now he can think about going to graduate school and his future.
Lawrence, Jr. attended King College Prep High School and is a proud member of Kappa Alpha Psi Fraternity.