North Carolina graduates sit in stunned silence as alumnus reveals a 'debt-free' surprise

On May 8, the students of North Carolina State received the best news from their commencement speaker on their graduation day. Anil Kochhar, the son of renowned NCS alumnus Prakash Chand Kochhar, shared that he and his wife, Marilyn, would clear the final-year student loans of all the Wilson College of Textiles graduates, including 76 students with a bachelor's degree and 26 students with a master's degree, stated Axios Raleigh. The main purpose of clearing their student loan debt was to give the students a chance to pursue their goals, "take risks and build the lives you’ve worked so hard to achieve," Kochhar said to the graduating class. The story aired on May 8, 2026, has us in an emotional chokehold

An unexpected gift

The graduation gift for the class of 2025-26 was given in honor of Anil Kochhar's father. During the speech, he mentioned, "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."

How it all began

Prakash Chand Kochhar traveled all the way from Punjab, India, to Raleigh, North Carolina, on a scholarship to study textile manufacturing. He was believed to be only the second Indian to register at the university, claimed the New York Post. Ever since Prakash Chand Kochhar's sudden passing in 1985, his family has been making several donations in the form of scholarships and funding for different programs. However, Anil Kochhar's graduation gift to the students is possibly the biggest and most generous contribution to NCS.

Prakash Chand Kochhar

Anil Kochhar spoke warmly about his father at the NC State graduation. He shared, "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." Looking back 80 years ago, when his father set foot in America, at NC State, no one could have predicted the future, and the way things would turn out.

Anil added, "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, or that one day his son would stand here speaking to a graduating class at the very institution that welcomed him." Life had come full circle at that very moment when Anil stood on stage.

A major relief for students

Kochhar's gift could make a meaningful difference for graduates entering the workforce, who often have to put their other priorities aside to pay their student loans. Research from the Kauffman Foundation found that 65% of college seniors graduated with student debt in 2018, with the average borrower owing about $29,200. A 2024 Gallup survey found that 71% of student loan borrowers said they had delayed at least one major life milestone because of their debt, including buying a home, purchasing a car, or making other long-term plans. 

It was not just the graduating students who were grateful for Kochhar's generous gift, but also the Wilson College of Textiles Dean, David Hinks. He said, "I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni. One of our primary goals is to make the Wilson College affordable for all, and Anil and Marilyn are helping us achieve it."

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