College grads stunned after surprise donor pays off their student loans

Graduates at North Carolina State University were left stunned after a commencement speaker announced he would personally cover their final-year student loan debt during a graduation ceremony.

The unexpected announcement came during a May 8 commencement at the university’s Wilson College of Textiles, where donor and entrepreneur Anil Kochhar revealed that he and his wife Marilyn would pay off all education loans incurred by graduates during the 2025-26 academic year.

Graduates erupt after donor wipes student debt

Videos from the ceremony quickly spread online showing students erupting into cheers and giving Kochhar a standing ovation after the announcement.

“It is my privilege to announce today that, in honor of my father, my wife Marilyn and I, are providing a graduation gift to cover all the final-year education loans incurred by Wilson College graduates during the 2025-26 academic year,” Kochhar told graduates during his speech.

Kochhar said the donation would cover the entire academic year of 2025-2026.

According to Axios Raleigh, the donation will benefit around 200 graduates, including 176 undergraduate students from the college.

Kochhar said the gesture was made in honor of his late father, Prakash Chand Kochhar, who studied textile manufacturing at NC State after arriving in the US from India in the 1940s.

“Marilyn and I hope that all of you leave Reynolds Coliseum today not only with a degree but with greater freedom to pursue your goals, take risks and build the lives you’ve worked so hard to achieve,” he added.

The university later confirmed it coordinated with its Office of Scholarships and Financial Aid to help facilitate the debt relief plan.