Typically, big-ticket donors focus their efforts on scholarships to help students at their chosen college and universities. But given the severity of the student debt crisis in the US, could debt repayment be the next trend among the Robert F. Smiths of the world?
If major donors really want to help students, the area of need couldn’t be more plain.
“We’ve gotten to a place where student debt is not just an individual concern, many people view it as a societal concern,” says McNeal. “In the case of Mr. Smith, that concern is reflected in his gift. And it’s still coming from that same motivation as scholarship creation.”
It’s not the first time it’s been recognized
Smith’s donation may have been unique in its presentation and scale — Morehouse President David Thomas told CNN the total gift will likely be in the tens of millions of dollars. But it’s not the first time an individual or company with deep pockets has recognized the need for student debt relief.
The issue’s now in a new sphere
And now, large, public gifts like Smith’s have brought the issue of student debt into a new sphere, mixing the celebratory environment of commencement season with the life-changing gift of debt repayment.
Source : CNN