By CBS3 Staff

PHILADELPHIA (CBS) — On Sunday, billionaire investor Robert Smith announced during his commencement speech that he would pay off the student loan debt for Morehouse College’s 2019 graduating class. Yasin Smith, of Philadelphia, is one of the lucky students who is now debt free!

Smith majored in Spanish and pre-nursing at the historically black college. He says Robert Smith’s gift will go a long way.

Morehouse College Graduation Speaker Promises To Pay Off Grads’ Student Loans

“Now, I have the ability to travel — all my professors wanted me to travel and now that’s open to be an option,” Smith said. “I can now invest some money and just go into a fellowship and teach English while learning my Spanish.”

“Yes, he’s a billionaire. Yes, he’s a black billionaire, and that’s just one man that just changed the lives of 400 young, black men,” Smith said. “That’s not something that I think anybody can believe, initially.”

Robert Smith pledged to pay off $40 million in student debt.