A billionaire is wiping out the debt of an entire 2019 college class. AOC says they shouldn’t need an ‘act of charity.’
In an astonishing display of generosity, billionaire Robert F. Smith announced that his family is providing grants to wipe out the student debt of the entire 2019 class at Morehouse College.
Smith made the announcement while giving a commencement speech at the all-male historically black college in Atlanta, Georgia on Sunday, May 19. It was met by an enthusiastic cheer from the 400 graduating seniors.
“My family is going to create a grant to eliminate your student loans,” Smith said. According to the college, Smith pledges to donate $40 million to the graduates.
Smith is the founder of Vista Equity Partners, a private equity firm with over $46 billion in assets.
While Smith’s donation is an incredible show of generosity, it also highlights the tremendous burdens faced by millions of many college and trade-school graduates. Americans owe $1.4 trillion in college debt. That’s more than they owe on car loans or credit cards.
The average college senior now owes $29,000 in student loan debt and the average bachelor’s degree holder takes 21 years to pay off their loans.
Student debt prevents young Americans from starting businesses, buying homes, or saving for retirement. It also forces them to make hasty career decisions so they can stay afloat.
Freshman Democratic Representative Alexandria Ocasio-Cortez used Smith’s generous donation to highlight the student debt crisis.
It’s important to note that people shouldn’t be in a situation where they depend on a stranger’s enormous act of ch… https://t.co/4dcWjh4shb— Alexandria Ocasio-Cortez (@Alexandria Ocasio-Cortez) 1558285034.0
She also saw the donation as an experiment to see how debt-free graduates behave as opposed to those who leave college under extreme financial stress.
Every Morehouse Class of 2019 student is getting their student debt load paid off by their commencement speaker. T… https://t.co/8EaxuZxSNn— Alexandria Ocasio-Cortez (@Alexandria Ocasio-Cortez) 1558285034.0
Ocasio-Cortez campaigned in favor of creating tuition free college and trade schools as well as eliminating all student debt. It’s an issue that's close to home for her, because she’s still paying off her degree from Boston College where she graduated in 2011.
For the cost of the GOP’s tax bill, we could forgive ALL the student loan debt in the United States. #TuesdayThoughts— Alexandria Ocasio-Cortez (@Alexandria Ocasio-Cortez) 1526397199.0
Vermont Senator Bernie Sanders echoed Ocasio-Cortez's statement at a town hall in Montgomery, Alabama.
"A very kind gentleman, a billionaire, forgave the debts of students at Morehouse," the Democratic presidential candidate said. "What he did was very generous, but the truth is that private charity alone is not going to solve a problem in which some 40 million Americans are struggling with right now."
"The time again is long overdue to stop the punishment of millions of people who did nothing wrong except try to get the best education that they could," he continued.
Bernie Sanders: "A very kind gentleman, a billionaire, forgave the debts of students at Morehouse. What he did was… https://t.co/99NkxhxXdP— The Hill (@The Hill) 1558384778.0
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12 non-threatening leadership strategies for women
We mustn't hurt a man's feelings.
Men and the feels.
Note: This an excerpt is from Sarah Cooper's book, How to Be Successful Without Hurting Men's Feelings.
In this fast-paced business world, female leaders need to make sure they're not perceived as pushy, aggressive, or competent.
One way to do that is to alter your leadership style to account for the fragile male ego.
Should men accept powerful women and not feel threatened by them? Yes. Is that asking too much?
IS IT?
Sorry, I didn't mean to get aggressive there. Anyhoo, here are twelve non-threatening leadership strategies for women.
Encourage.
With permission from Sarah Cooper.
When setting a deadline, ask your coworker what he thinks of doing something, instead of just asking him to get it done. This makes him feel less like you're telling him what to do and more like you care about his opinions.
Sharing ideas.
With permission from Sarah Cooper.
When sharing your ideas, overconfidence is a killer. You don't want your male coworkers to think you're getting all uppity. Instead, downplay your ideas as just "thinking out loud," "throwing something out there," or sharing something "dumb," "random," or "crazy."
Email requests.
With permission from Sarah Cooper.
Pepper your emails with exclamation marks and emojis so you don't come across as too clear or direct. Your lack of efficient communication will make you seem more approachable.
Idea sharing.
With permission from Sarah Cooper.
If a male coworker steals your idea in a meeting, thank him for it. Give him kudos for how he explained your idea so clearly. And let's face it, no one might've ever heard it if he hadn't repeated it.
Sexism.
With permission from Sarah Cooper.
When you hear a sexist comment, the awkward laugh is key. Practice your awkward laugh at home, with your friends and family, and in the mirror. Make sure you sound truly delighted even as your soul is dying inside.
Mansplain.
With permission from Sarah Cooper.
Men love explaining things. But when he's explaining something and you already know that, it might be tempting to say, "I already know that." Instead, have him explain it to you over and over again. It will make him feel useful and will give you some time to think about how to avoid him in the future.
Mistakes.
With permission from Sarah Cooper.
Pointing out a mistake is always risky so it's important to always apologize for noticing the mistake and then make sure that no one thinks you're too sure about it. People will appreciate your "hey what do I know?!" sensibilities.
Promotions.
With permission from Sarah Cooper.
Asking your manager for a promotion could make you seem power- hungry, opportunistic, and transparent. Instead, ask a male coworker to vouch for you. Have your coworker tell your manager you'd be great for the role even though you don't really want it. This will make you more likely to actually get that promotion.
Rude.
With permission from Sarah Cooper.
Sometimes not everyone is properly introduced at the start of a meeting. Don't take it personally even if it happens to you all the time, and certainly don't stop the meeting from moving forward to introduce yourself. Sending a quick note afterward is the best way to introduce yourself without seeming too self-important.
Interruptions.
With permission from Sarah Cooper.
When you get interrupted, you might be tempted to just continue talking or even ask if you can finish what you were saying. This is treacherous territory. Instead, simply stop talking. The path of least resistance is silence.
Collaboration.
With permission from Sarah Cooper.
When collaborating with a man, type using only one finger. Skill and speed are very off-putting.
Disagreements.
With permission from Sarah Cooper.
When all else fails, wear a mustache so everyone sees you as more man-like. This will cancel out any need to change your leadership style. In fact, you may even get a quick promotion!
In conclusion...
With permission from Sarah Cooper.
Many women have discovered the secret power of non-threatening leadership. We call it a "secret power" because no one else actually knows about it. We keep our power hidden within ourselves so that it doesn't frighten and intimidate others. That's what makes us the true unsung heroes of the corporate world.
About the Author: Sarah Cooper
Sarah Cooper is a writer, comedian, and author of 100 Tricks to Appear Smart in Meetings. Her new book, How to Be Successful Without Hurting Men's Feelings, is out now.
The comedic book cover.
With permission from Sarah Cooper.
A satirical take on what it's like to be a woman in the workplace, Cooper draws from her experience as a former executive in the world of tech (she's a former Googler and Yahooer). You can get the book here.
This article was originally published on March 25, 2019.