Last week, billionaire Robert F. Smith announced that he would pay off the student loans of the 2019 graduating class of Morehouse. And I figured I’d write something because I feel pretty conflicted about it—or I at least feel like I should be more conflicted about it.

The general atmosphere surrounding this gift was one of jubilation. I had many colleagues, friends, and acquaintances celebrating the gift, as did public figures I admire, like the civil rights activist Shaun King. But my initial response was one of anger. Anger at a system that creates student debt in the first place, and anger over the celebration of an individual who is one of few beneficiaries of that system (Smith has 4.4 billion dollars). It struck me as akin to celebrating our feudal lord for feeding us in a time of famine (which was a feudal obligation). Worse yet, it's actually more akin to celebrating our feudal lord for feeding us while his hoarding of grain helped cause the famine in the first place. The charity is only required because of the crime that necessitated it.

But I caught a little blowback for expressing my frustration, and I think I can see where people were coming from.

Read More