Or 1.7% of a $12 Billion endowment.

Some of the incoming Class of 2023 are potentially looking at a $300K burden.

I know the endowment is used for University operations. I just wish there was a middle ground somewhere.

It seems ridiculous to this CMU educated melon.

I wonder what the mechanics of this gift will be, probably will be fairly complicated to since some of them may have debts that are not strictly related to cost of attendance/tuition. Also how to make sure the gift does in fact go to pay off student loans and not a car loan.

Still really tremendous gift by him.

Being generous and doing kindnesses is a good thing. Kids graduating from college is a good thing.

Then I think about people that have $40 Million to give away and it’s .04 of their liquid wealth (Smith is referred to as a “billionnaire”).

Then I think about kids signing up for student loans with no business plan of how to pay them, holding a thought somewhere in the back of their minds that someone else will take care of the debt for them.

Anyway, those kids had the best collective college graduation in history. I can’t imagine the feeling in that auditorium.