Billionaire Helps Students – level 2
A billionaire investor gave almost 400 graduating college seniors a gift to pay off their student loans. He gave this gift during his 2019 speech at the college.
His news shocked the crowd. One graduate thought that he was lying. The college president said that he had never before seen a gift like this.
A representative said that the investor will give $40 million to help pay off the student loans. Each student has a loan of about $48,000.
For most colleges and universities across the USA, analysts think that student loan debt was about $1.5 trillion last year.
Difficult words: investor (a person who invests or spends money in different businesses and then earns money from those businesses), student loan (money that you borrow to go to college or university), student loan debt (the money that you have to pay back after you finish the school).
You can watch the original video in the Level 3 section.
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