Commencement ceremonies at American universities brim over with emotional speeches and dreams of a brighter future. But to over 200 graduating students at North Carolina State University, this year’s ceremony was more than a pleasant surprise. Indian-origin philanthropist Anil Kochhar surprised the graduating cohort of 2025-26 by pledging to pay off their final-year student loans estimated $4 million to $8 million. He, along with his wife Marilyn, made this announcement at Wilson College of Textiles in Raleigh, NC.
Anil Kochhar’s pledge to clear the debt for 202 students is a tribute to his father who had travelled from India to the US in 1946 to study textile engineering. He said, “It is my privilege to announce today that, in honor of my father Prakash Chand Kochhar, 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.”
The auditorium erupted into cheers and a standing ovation. Many students were visibly emotional as they realized their senior-year debt would disappear. The initiative will benefit 176 undergraduate students and 26 master’s graduates from the college.
Who is Anil Kochhar in USA?
Anil Kochhar is an Indian American billionaire and philanthropist known for his generous contributions to education and student welfare, like Dr Kiran Patel in Florida. He is closely connected to his father’s alma mater, North Carolina State University. He has supported scholarships, faculty initiatives, graduate programs, and endowments established in his father’s memory over the years.
The story behind Anil Kochhar’s gift to 202 graduates began with his father Prakash Chand Kochhar, who travelled from Punjab to Raleigh in 1946; the same year Sardar JJ Singh, another Indian from Punjab fought for the rights to US citizenship for fellow Indians in America. Prakash Chand Kochhar studied textile manufacturing at North Carolina State University, Raleigh. When overseas education was a luxury even for upper middle-class Indians, he arrived in the US for better prospects of life and dreams of a better future.
During his speech, Anil Kochhar emotionally reflected on his father’s journey. “Eighty years ago, a young man travelled thousands of miles from India to Raleigh with little more than hope and determination,” he told graduates. “He could not have known where that journey would lead. He could not have imagined the life it would create.”
“My father found not just an education, but an opportunity that allowed him to build a life, support his family, and begin a legacy that continues today,” Anil added. Prakash Chand Kochhar earned his bachelor’s degree in 1950 and completed his master’s degree in 1952 before beginning his career in the American textile industry. Reports say that he later worked at Industrial Rayon in New York City and built a successful global career before his demise in 1985.
Anil also shared a heartfelt message with the graduating students, “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.” His words deeply resonated with the students who are stepping into an uncertain economic environment where educational debt often shapes major life decisions for years.
The impact of the announcement was immediate and emotional. Alyssa D’Costa, a fashion and textile management major, said, “As a daughter of immigrants, this helps me and my family a lot.” David Hinks, Dean of the Wilson College of Textiles, called it an “extraordinary investment in students”. For many students and parents seated in the auditorium, the announcement turned an already memorable graduation day into a life-changing experience.
At a time when student debt continues to weigh heavily on millions of young students in America, Anil Kochhar’s philanthropy stands out not just as a financial gift but also as a message of hope. For 202 students leaving North Carolina State University this year, graduation did not just come with a degree. It came with relief, gratitude, and a brighter beginning. For many Indian Americans, the Kochhar family story mirrors the larger immigrant experience in the USA.
It covers the final year student debt or the from sophomore to senior?