NEW: In commencement address, philanthropist Robert Smith pledges $40,000,000 to clear Morehouse graduates' student debt.
Smith called the gift"a little fuel" for the 396 students who comprise the Morehouse Class of 2019. The school has estimated the total debt of students is about $40 million.
Smith told grads to"pay it forward" and do something that could ensure that"every class has the same opportunity going forward." The Cornell University alum founded, and is still CEO of, Vista Equity Partners, which invests in software, data, and tech-driven companies.according to the latest estimates by Forbes magazine.
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