Indian-Origin Philanthropist Clears Student Loans for 176 NC State Graduates

An Indian-origin philanthropist, Anil Kochhar, announced during a commencement ceremony at North Carolina State University on Friday that he and his wife Marilyn would cover all final-year education loans for 176 bachelor's degree graduates of the Wilson College of Textiles. The announcement, made at Reynolds Coliseum in Raleigh, was delivered as part of Kochhar's speech honoring his late father, Prakash Chand Kochhar, who studied textile manufacturing at the university after emigrating from Punjab, India, in 1946.

The gift applies exclusively to students who received bachelor's degrees in the 2025-26 academic year and covers loans taken for their senior year; 26 master's degree recipients were not included. University officials confirmed the Kochhars coordinated the donation with NC State's Office of Scholarships and Financial Aid ahead of the ceremony. Dean David Hinks of the Wilson College of Textiles called the contribution an 'extraordinary investment' in alumni and a step toward making education more accessible.

Prakash Chand Kochhar earned a bachelor's degree in 1950 and a master's in 1952 from NC State before working in the textile industry in New York. His son Anil, citing his father's journey, said the donation was a tribute to the opportunity the university provided his family. 'He could not have imagined the life it would create, or that one day his son would stand here speaking to a graduating class,' Anil Kochhar said.

Recipients, many of whom are children of immigrants, described the relief as transformative. NC State confirmed the financial aid office is now processing the loan payments. The Wilson College of Textiles, the only college in North America dedicated solely to textiles, said the gesture reinforces its mission of affordability and inclusion.