The announcement has also renewed attention on America’s growing student debt crisis, with millions of graduates across the country struggling with education loans
PRAVASISAMWAD.COM
Indian-American businessman and philanthropist Anil Kochhar surprised hundreds of students at North Carolina State University by announcing that he and his wife, Marilyn, would pay off the final-year education loans of 176 graduating students, reported gulfnews.com.
The emotional announcement was made during the Wilson College of Textiles graduation ceremony in Raleigh, North Carolina.
The generous gesture was made in memory of Kochhar’s late father, Prakash Chand Kochhar, who travelled from Punjab to the United States nearly 80 years ago to study at the same college. Addressing the graduating class, Kochhar said he hoped the gift would help students begin their careers without the burden of debt.
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The announcement received loud applause and emotional reactions from students and their families inside Reynolds Coliseum
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According to reports, the scheme will cover loans taken during the students’ final academic year
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Although the university has not revealed the total amount, US media estimates suggest the donation could be worth between $4 million and $8 million
Many students described the gesture as life-changing. Fashion and textile management student Alyssa D’Costa said the support would greatly help her immigrant family and reduce financial pressure after graduation.
Kochhar also reflected on his father’s inspiring journey. Prakash Chand Kochhar enrolled at the Wilson College of Textiles in 1946 and later built a successful career in textile engineering. Since his death in 1985, the Kochhar family has continued supporting the university through scholarships, research funding and faculty programmes.
