An Indian-origin donor cleared final-year student loans for 176 North Carolina State University graduates, turning a Raleigh commencement ceremony into a major student debt relief story watched beyond North Carolina, including by Indian American and NY families.

The surprise announcement came at Reynolds Coliseum in Raleigh, North Carolina, on Friday, May 9, 2026, during the Wilson College of Textiles commencement ceremony.

Anil Kochhar Honors His Father’s India-to-US Journey

Philanthropist Anil Kochhar and his wife, Marilyn Kochhar, said they would cover final-year education loans taken during the 2025-26 academic year for 176 bachelor’s degree graduates.

Kochhar said the gift honored his late father, Prakash Chand Kochhar, who moved from Punjab, India, to North Carolina nearly 80 years ago to study textile manufacturing.

Why The Donation Matters

The relief applies to senior-year loans, university officials said. For many graduates, that means entering the workforce with less financial pressure at a time when college debt remains a major concern across the United States.

Students and families responded with a standing ovation after the announcement. Kochhar told graduates he hoped the support would give them more freedom to pursue goals, take risks and begin their careers with confidence.

NC State Calls It A Major Investment

Wilson College Dean David Hinks praised the Kochhars’ contribution as an extraordinary investment in the university’s newest alumni.

Along with the 176 undergraduate recipients, 26 master’s students also graduated at the ceremony. For students such as fashion and textile management graduate Alyssa D’Costa, the gift was described as life-changing support for both graduates and their families.