'Completely shocked:' Raleigh man describes moment commencement speaker said his loans would be paid for

ATLANTA (WTVD) -- A Raleigh native attending Morehouse College in Atlanta says he is thrilled to find out that all of his student loans will be paid off by the Class of 2019's billionaire commencement speaker.

Robert F. Smith, a billionaire technology investor and philanthropist, says his family is providing grants to wipe out the student debt of the entire 2019 class at Morehouse College.

Smith made the announcement Sunday morning in front of nearly 400 graduating seniors and elicited the biggest cheers of the morning.

RELATED: Graduation speaker pledges to pay class of 2019 student debt

Brandon Sannoh, one of the grads, happens to be from Raleigh.

Sannoh said he owed over $100,000 in student loans--and he's now debt free.

"I was completely shocked. That's actually the best gift I've ever received in my life," Sannoh said.

The Atlanta Journal-Constitution reports that the billionaire's pledge to eliminate the student debt for the 2019 class will equate to about $40 million.