New Delhi: Students at North Carolina State University were left stunned and elated when Indian-American philanthropist Anil Kochhar and his wife, Marilyn, announced that they would pay off final-year loans of the graduating class of 2025-26. The surprise announcement came during the Wilson College of Textiles commencement ceremony in Raleigh on 8 May.
“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,” Kochhar announced, as the students broke out in cheers.
The donation will cover all 176 students who have received bachelor’s degrees, as well as an additional 26 who earned master’s degrees. The surprise would change the trajectory of these students’ lives, as education loans remain a significant financial burden for many in the US.
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Who is Anil Kochhar?
Kochhar is a textile industry executive, serving as the vice chairman and co-founder of Outcomes Health Info Solutions.
For him, the gesture was a tribute to his late father, Prakash Chand Kochhar, who travelled from Punjab to Raleigh in 1946 to study textile manufacturing at North Carolina State University. At that time, Prakash was the second Indian student ever to enroll at the university. He earned both bachelor’s and master’s degrees from the school in 1952. Soon after, Kochhar started working as a sales service coordinator at Industrial Rayon in New York city. His love for textiles and career took him to several states, including Ohio, Virginia, North Carolina, and Georgia, as part of the Technical Service Group of Hercules.
“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,” Kochhar said during the ceremony. Reynolds Coliseum is an air-conditioned 5,500-seat multi-purpose arena on the NC State University campus in Raleigh.
A year after his passing away, Prakash Chand Kochhar Memorial Textile Scholarship was created in 1986.
“My father could not have imagined this moment. Not just me standing here, but all of you sitting here… A new generation, shaped by a different world, but connected by the same spirit of possibility that brought him here decades ago. And that’s what today represents,” said Kochhar.
Students were overwhelmed by Kochhar’s gesture, with some expressing how it would help them and their families.
“As a daughter of immigrants, this money helps me and my family a lot, and I’m really fortunate to have an opportunity like this,” said Alyssa D’Costa, a fashion and textile management major at Wilson College of Textiles.
Kochhar had shared his plan to pay off final-year loans for the students with the college’s Prakash Chand Kochhar Dean, David Hinks, who then coordinated with the NC State’s Office of Scholarships and Financial Aid.
“I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni,” Hinks said, adding that the two are helping make the college affordable for all.
(Edited by Aamaan Alam Khan)