Hale handed the cash to graduating seniors in two envelopes each containing $500. He told them to take one and donate the other.
Billionaire Robert Hale doled out millions of dollars Thursday to 2,500 graduates at the University of Massachusetts, Boston — giving each one $1,000 in cash as they accepted their diplomas—the latest billionaire donation for students, as the price of tuition skyrockets.
For Hale, the sudden loss of $2.5 million only represents a drop in the bucket of his $5 billion net worth, according toIt’s also his second time giving college graduates cash: Hale in 2021 handed $1,000 to all 270 graduating students who attended their commencement address at Quincy College, several miles outside Boston.$15,535. That’s how much in-state students pay per year in tuition and mandatory fees at UMass Boston, a predominantly commuter school,the school’s bursar’s office.
the plan—which has also been challenged in the courts and awaits a ruling at the Supreme Court—and restart federal student loan payments.
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