Philanthropist Clears Student Loans for 176 Graduates

May 11, 2026

76 min

May 11, 2026 10:30

Indian-American philanthropist wipes out loans for 176 graduates

## Generous Gesture at NC State

Indian-American philanthropist Anil Kochhar and his wife Marilyn surprised graduates at North Carolina State University's Wilson College of Textiles by announcing they would pay off the final-year education loans for 176 students. This unexpected gift was made during the commencement ceremony, honoring the memory of Kochhar's father, Prakash Chand Kochhar, who emigrated from Punjab to the US nearly 80 years ago.

## Impact on Graduates

The announcement brought immediate relief and joy to the graduates and their families, as it covered loans taken out for their senior year. Although the exact amount was not disclosed, estimates suggest the donation could range from $4 million to $8 million. The gesture is expected to provide the graduates with greater freedom to pursue their careers without the burden of debt.

## A Legacy of Education

Anil Kochhar's father was one of the first Indian students at the Wilson College of Textiles, enrolling in 1946. He completed his education there and went on to have a successful career in textile engineering. In memory of his father, the Kochhar family has been actively involved in supporting the university through scholarships and other educational initiatives.

## Broader Implications

This act of generosity has reignited discussions about the student debt crisis in the US, where education costs have been rising for decades. The burden of student loans is particularly heavy on minority communities. The Kochhars' donation highlights the ongoing challenges faced by students nationwide and the importance of making higher education more accessible.

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