A grand gift

Student debt is a national problem. Students find themselves leaving college with massive loans and the daunting challenge of how to pursue career goals and pay off those loans.

A college degree remains important for future earnings and choice of careers, but the load of debt many college graduates face entering the job market drives decisions that may not be the best in the long run.

The situation has attracted the attention of politicians and others. Student loan debt surpasses $1.53 trillion and takes an average of 19.7 years to pay off. The amount due is larger than the amount owed nationally on credit cards and auto loans. It is a burden for 44 million adults.

Student debt can be daunting and mar graduation for many graduates.

It was a different story at the Morehouse College graduation ceremony this year. Billionaire Robert Smith announced that his family would pay off all the student loan debts of the entire graduating class. He reportedly pledged $40 million.

This is a very selective gift. Only Morehouse College and only this one graduating class has been so gifted.

The generosity may be unmatched. It gives unexpected freedom and unlimited options to the graduates. But according to Smith, the gift is not entirely free.

Smith has challenged the class to pay it forward, to use their good fortune to pursue their full potential and help others.

He also called on others to emulate what he has done.

This is a dramatic gift. It may help to set the tone for others.

Student debt is not a small problem. It can be destructive of the hopes and promise graduates should feel when they venture out into the world.

Morehouse is just one of the nation’s institutes of higher learning. The graduating class of this college is just one of the many classes graduating. Smith’s gift just barely nicks the problem. Yet, this is a hopeful sign that there will be more than just talk in the future. Smith may have planted the seed for others to be more proactive about what some are rightfully calling a national crisis. He certainly has planted the seed for those Morehouse graduates in the class of 2019.