Morehouse College grads are surprised by a billionaire’s promise to pay off their student loans

( CNN) Morehouse College seniors got a surprise Sunday when billionaire investor Robert F. Smith announced during his commencement speech that he would pay off the student loan debt for the historically black college’s graduating class.

The announcement was met with a standing ovation and sings of “MVP! “
“Now, I know my class will make sure they offer this forward, ” he persisted. “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.”