Hats off to Robert Smith, the

[Lazie]

billionaire who pledged to pay off the student loans for all the 2019 graduates of Morehouse. That was an amazing graduation gift.

[Rockman]

Yes, however, just feel he jumped the gun.Pretty sure his accountant would tell him to allow the graduates to go into default on the loans , then buy those debts ....
We will see though.

[Don1]

Yes, however, just feel he jumped the gun.Pretty sure his accountant would tell him to allow the graduates to go into default on the loans , then buy those debts ....
We will see though.

Madness

So he'll also pay for their fuxxed-upped credit and really bad life-lesson as well?

[Rockman]

Fine, but nevertheless, it is an invidious comparison,one has to do with wants whilst the other has to do with needs.
Besides,by far and large, student loan is the most stifling debt they will ever face(assuming they NEVER buy a house in Florida).

[Don1]

I don't see what's "invidious" about avoiding bad credit when there are far superior options available. Why would any graduate wish to start working life with such a huge negative?? I'm mystified by your reasoning

Seems to me the best course for the donor would be to negotiate a bulk and discounted purchase of the debt from the the institutions holding the paper. Then liquidate the obligations via his foundation. Obviously gaining the tax write-offs in the process.

He emerges as both a hero and savvy financially.... and the kids debt-free and financially fit