An Indian-origin philanthropist has promised to erase part of the student debt for the graduating class of North Carolina State University’s Wilson College of Textiles. Anil Kochhar revealed that he and his wife, Marilyn, would pay off all final-year loans for the graduates during his commencement ceremony on Friday.
“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.
It was an announcement that was met with stunned cheers from the crowd, a video going viral online shows.
In memory of Prakash Chand Kochhar
During his speech in Raleigh, Anil Kochhar said that his gift to the class of 2026 was in memory of his father. Anil is the son of Prakash Chand Kochhar, an immigrant from India who studied textile manufacturing in Raleigh.
{{/usCountry}}During his speech in Raleigh, Anil Kochhar said that his gift to the class of 2026 was in memory of his father. Anil is the son of Prakash Chand Kochhar, an immigrant from India who studied textile manufacturing in Raleigh.
{{/usCountry}}Prakash Chand Kochhar immigrated from India to Raleigh in 1946 to study textile manufacturing. After earning his bachelor’s degree in textile manufacturing in 1950 and his master’s degree in the same program in 1952, he accepted a role as a sales service coordinator at Industrial Rayon in New York City.
“Eighty years ago, a young man traveled thousands of miles from India to Raleigh with little more than hope and determination. He could not have known where that journey would lead. He could not have imagined the life it would create,” Anil Kochhar said in his speech.
(Also read: Indian student in US considers return after failing to secure permanent job: ‘I have a loan to pay off’)
“He arrived in a country far from home, at a time very different from today, but he was welcomed with open arms,” added the philanthropist. “They said Prakash, we’re glad you’re here.”
Since Prakash Chand Kochhar’s death in 1985, his family has endowed several scholarships in his name.
A gift to graduates
Anil Kochhar appeared before the crowd at Friday morning's commencement wearing a red NC State cap. His speech on student loan repayment elicited excited cheers and applause.
According to Axios, 176 students earned bachelor's degrees from the college in 2026, along with 26 who earned master's degrees.
"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. And it will never stop, never," Kochhar said.