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Robert F. Smith announces new internship program for students of color

The billionaire who paid off Morehouse student debt continues to pay it forward.

Courtesy Robert F. Smith

Fresh off surprising Morehouse graduates by announcing he will eliminate the student debt of the entire class of 2019 during his commencement speech last month, Robert F. Smith is proudly continuing his charitable work.

As reported, the businessman, investor and philanthropist has officially launched a new paid internship program for students of color with an interest in the STEM field. Per Smith's announcement, his "Intern X" initiative will help connect rising sophomores with a GPA of 2.8 or higher land with paid STEM-related internship positions at a variety of companies.

Per Intern X's website, the eight-week summer preparatory program will help ethnically underrepresented students grow in sectors such as finance, marketing, software, and real estate. Additionally, companies such as AT&T, Price Waterhouse Cooper, Deloitte, Citi and Smith's own firm, Vista Equity Partners, have all signed on to participate.

The website also points out that some employers will provide relocation and housing assistance for participants. Those selected for the program will also receive payment, mentorship, networking opportunities and "robust assignments."

Smith's program falls under his Fund II Foundation, which boasts a mission to "advance social change and create an enduring American legacy."

Last month, Smith made headlines for his shocking gift of taking care of graduating students' collective debt, a donation with an estimated value of $40 million.

"On behalf of the eight generations of my family that has been in this country, we're gonna put a little fuel in your bus," he said at the time, addressing nearly 400 students. "This is my class, 2019. And my family is making a grant to eliminate their student loans. I know my class will make sure they pay this forward…and let's make sure every class has the same opportunity going forward because we are enough to take care of our own community."

For those interested in learning more about how to apply for Intern X, please see the official website.

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