Graduates at North Carolina State University were taken by surprise when their commencement address turned into an unexpected opportunity: the chance to have some of their student loans forgiven, giving them more leeway to chase their ambitions.
During the graduation ceremony at Wilson College of Textiles in Raleigh, Anil Kochhar, whose father was a distinguished alumnus of NC State, announced alongside his wife, Marilyn, that they would settle the final-year student loans for the graduates.
“Today, I have the honor of declaring that, in memory of my father, Prakash Chand Kochhar, Marilyn and I will be gifting the graduates by covering all senior-year education loans incurred during the 2025–26 academic year at Wilson College,” Kochhar stated.
This heartfelt gesture was a tribute to Kochhar’s father, Prakash Chand Kochhar, who made his way from Punjab, India, to Raleigh in 1946 to study textile manufacturing at the university.
The announcement was met with thunderous applause and a standing ovation as the students realized the financial burden of their final-year loans had been lifted.
“Marilyn and I hope that as you walk out of Reynolds Coliseum today, you do so not just with a degree but with enhanced freedom to pursue your dreams, embrace risks, and construct the lives you’ve diligently worked towards,” Kochhar concluded.
The graduating class consisted of 176 students who received their bachelor’s degree and another 26 earned a master’s degree, according to Axios Raleigh,
For many students, the surprise payout could mean a dramatically different future.
“As a daughter of immigrants, this money helps me and my family a lot, and I’m really fortunate to have an opportunity like this,” Alyssa D’Costa, a fashion and textile management major, told the university.
Prakash Chand Kochhar arrived in Raleigh on a scholarship to attend the then School of Textiles, where he was believed to be only the second Indian student ever to enroll at the university.
He went on to earn bachelor’s and master’s degrees from the school and build a career that took him around the world before his unexpected death in 1985.
The Kochhar family has made several major donations to the college in recent years, including scholarships and funding for faculty and graduate programs — but Friday’s graduation surprise may have been their most memorable gift yet.
“My father could not have imagined this moment. Not just me standing here, but all of you sitting here,” Kochhar said.
“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.”
“Eighty years ago, a young man traveled thousands of miles from India to Raleigh with little more than hope and determination,” he added.
“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.”
University officials said the Kochhars coordinated with school leadership and the Office of Scholarships and Financial Aid to arrange the debt payoff before graduation.
“I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni,” Wilson College of Texiles 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.
