Students erupted with joy during the graduation ceremony at Reynolds Coliseum in Raleigh when an Indian-origin philanthropist announced on Friday that he would pay off all final-year education loans for 176 graduates of North Carolina State University’s Wilson College of Textiles, the New York Post reported. Anil Kochhar, who was the commencement speaker during the ceremony, is the son of NC State alumnus Prakash Chand Kochhar. He said that the announcement was meant to honour his late father’s journey from Punjab to Raleigh.
“It is my privilege to announce today that, in honour 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,” wearing a red NC State cap, Kochhar told the class of 2026.
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The announcement drew a standing ovation from students and families. “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 added.
The announcement applies to all 176 bachelor’s degree recipients and covers loans taken out for their senior year. Another 26 master’s students also graduated, according to Axios Raleigh.
Watch the video here:
NEW: Students go nuts after donor announces during his commencement speech that he is paying off all of their senior year debts.
Anil Kochhar and his wife decided to give the gift to all ~200 graduates in N.C. State’s family.
Kochhar is the son of Prakash Chand Kochhar, an… pic.twitter.com/oCPcMwFaW1
— Collin Rugg (@CollinRugg) May 10, 2026
Money will help the students
The students were shocked, as for many of them, the relief is life-changing. Alyssa D’Costa, a fashion and textile management major, told the university, “As a daughter of immigrants, this money helps my family and me a lot, and I’m really fortunate to have an opportunity like this.”
As per the university officials, the Kochhars coordinated with school leadership and the Office of Scholarships and Financial Aid before the announcement. “I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni,” Wilson College of Textiles Dean David Hinks said. “One of our primary goals is to make the Wilson College affordable for all, and Anil and Marilyn are helping us achieve it,” Hinks said.
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An 80-Year Legacy Comes Full Circle
Kochhar tied the gesture to his father’s story. “Eighty years ago, a young man travelled 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. He could not have imagined the life it would create, or that one day his son would stand here speaking to a graduating class at the very institution that welcomed him.”
Prakash Chand Kochhar arrived from Punjab, India, in 1946 to study textile manufacturing at NC State. He earned his bachelor’s in 1950 and his master’s in 1952, then worked as a sales service coordinator at Industrial Rayon in New York City. He died in 1985.
The Wilson College of Textiles is the only college in North America devoted entirely to textiles. Prakash Chand Kochhar’s education there launched a career in the industry and a family legacy now spanning three generations.
“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,” Anil Kochhar told the graduates.
