Anil Kochhar Announces Full Student Loan Payoff at NC State Commencement

Graduates of North Carolina State University’s Wilson College of Textiles received a life-changing surprise during their commencement ceremony last week when the event’s speaker announced he and his wife would pay off all their final-year student loans.

Philanthropist Anil Kochhar made the announcement Friday at Reynolds Coliseum in Raleigh, telling the assembled graduates the gift was in honor of his late father, Prakash Chand Kochhar. The donation will cover all education loans incurred during the 2025-26 academic year for the 176 students earning bachelor’s degrees and the 26 receiving master’s degrees from the college.

The immediate reaction from students was one of stunned disbelief, followed by cheers, applause, and tears. Many graduates hugged classmates or sat frozen in shock before rising for a standing ovation. Video of the moment has been widely shared online.

Kochhar explained the deeply personal motivation behind the gift. His father traveled from Punjab, India, to Raleigh in 1946 to study textile manufacturing at what was then the School of Textiles at NC State. University officials have said Prakash Chand Kochhar was believed to be only the second Indian student...