Graduates at North Carolina State University’s Wilson College of Textiles received an unexpected financial boost during commencement after a major donor announced he would cover all final-year student loan debt for the class.

The announcement came on May 8 at Reynolds Coliseum during the college’s graduation ceremony. Donor Anil Kochhar told students and families that he and his wife, Marilyn Kochhar, would pay off education loans taken on by graduates in the 2025–26 academic year. The news was shared in remarks connected to his late father, Prakash Chand Kochhar, who once studied at NC State, reports the Financial Express.

“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 told graduates and their families. Kochhar also referenced his father’s educational journey, noting his arrival in the United States from India in the mid-20th century and his studies in textile manufacturing at NC State. “Eighty years ago, a young man traveled thousands of miles from India to Raleigh with little more than hope and determination,” he said. “He could not have known where that journey would lead.”

“My father could not have imagined this moment. Not just me standing here, but all of you sitting here,” Kochhar added. “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,” he added.

The university said Prakash Chand Kochhar earned his undergraduate degree in textile manufacturing in 1950 and later completed a master’s degree in 1952 after arriving at NC State in 1946. His career later included work in textile manufacturing and engineering across multiple countries.

College officials said the gift builds on earlier support from the Kochhar family, which has funded academic and leadership initiatives at the Wilson College of Textiles.

David Hinks, the Wilson College dean, praised the contribution and said it supports the school’s broader affordability goals. “I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni,” Hinks told NC State Giving News.

“As the preeminent institution for textiles education, research and innovation, we are deeply committed to ensuring the Wilson College enables students from all walks of life to transform their own lives while graduating with zero or low debt.” One graduate, Alyssa D’Costa, said the announcement would ease financial pressure as she moves into further study through an accelerated degree program. “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,” D’Costa said.