Anil Kochhar, a donor to North Carolina State University, surprised graduates of the Wilson College of Textiles by announcing he would pay off their senior-year student loans during his commencement address on 8 May. The Indian American entrepreneur and co-founder of a healthcare technology company made the announcement to loud cheers and a standing ovation.
Kochhar said he and his wife, Marilyn, made the gesture in honour of his late father, Prakash Chand Kochhar, who studied textile manufacturing at the university from 1946 to 1952. 'He could not have imagined the life it would create, or that one day his son would stand here speaking to a graduating class at the very institution that welcomed him,' Anil Kochhar said in a university statement.
The gift applies to loans taken out during the final year of study for the 2026 graduating class. Of the 176 bachelor's and 26 master's degree recipients, Alyssa D'Costa said: 'As a daughter of immigrants, this money helps me and my family a lot.' David Hinks, dean of the college, called it 'an extraordinary investment in our newest alumni.'
Kochhar urged graduates to leave 'with greater freedom to pursue your goals, take risks and build the lives that you've worked so hard to achieve.' He concluded: 'Graduates, the world is waiting for what you create – with no friggin' last-year debt. Go get ’em.'
