Arnold Schwarzenegger speaks at University of Houston Commencement

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The University of Houston selected Arnold Schwarzenegger as the 2017 commencement speaker.

Arnold Schwarzenegger has turned down the money the University of Houston had previously agreed to pay him for his commencement speech May 12 at TDECU Stadium. Schwarzenegger, an actor, former governor of California and philanthropist, was reportedly expected to be paid $40,000 for a 25-minute speech.

"A commencement tradition is revived at the University of Houston. It is pomp. It is impressive. It is spectacular. It is joy and pride for your family, and a model for future generations to follow," said University of Houston officials.

The commencement and graduation celebration will be held May 12 at 10 a.m.