Students are Morehouse College were blown away on Sunday when Robert F. Smith, a billionaire commencement speaker, announced that his family was going to pay off all the student loans for the class of 2019.
"My family is going to create a grant to eliminate your student loans," Smith said during his speech.
Morehouse College said the gift was over $40 million.
The announcement had the crowds cheering with excitement as some of the kids student loan bills were estimated to be up to $90,000.
Robert F. Smith received an honorary doctorate at Morehouse College and had already announced another gift to the school worth $1.5 million.