Students graduating from North Carolina State University Wilson College of Textiles received a surprise during commencement after donor Anil Kochhar announced that he and his wife, Marilyn Kochhar, would pay off all final-year education loans for graduates from the 2025–26 academic year.
The announcement came during the college’s May 8 commencement ceremony at Reynolds Coliseum. Kochhar shared the news while speaking about the legacy of his late father, Prakash Chand Kochhar, who studied at NC State decades ago after traveling from India to the United States, reported ABC News.
“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,” Kochhar told graduates and their 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,” he added.
The announcement drew applause, tears and cheers from students and parents who realized the financial burden of student loans would disappear for many graduates. The gift followed another major investment made by the Kochhar family earlier this year to support leadership positions, graduate students and faculty members at the Wilson College of Textiles.
Why did Anil Kochhar make this donation?
Kochhar said the donation honored his father’s journey from India to North Carolina nearly 80 years ago. Prakash Chand Kochhar was born in Punjab, India, and built his career around textile manufacturing and engineering.
He arrived at NC State in 1946 with hopes of building a better future through education. He earned a bachelor’s degree in textile manufacturing in 1950 and later completed a master’s degree in the same field in 1952.
His career later took him across the United States and several countries. According to the university, his experiences shaped a lifelong belief in education, opportunity and community support.
“My father could not have imagined this moment. Not just me standing here, but all of you sitting here,” Anil Kochhar said during the ceremony. “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,” he added.
Kochhar also spoke about the sacrifices his father made after leaving India for Raleigh many decades ago. “Eighty years ago, a young man traveled 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.”
University leaders said the gift reflects the school’s larger mission of helping students graduate with little or no debt. The university has worked to improve affordability for students from different economic backgrounds.
David Hinks, the inaugural Prakash Chand Kochhar Dean at the college, praised the family for supporting future graduates. “I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni,” Hinks told NC State Giving News.
“As the preeminent institution for textiles education, research and innovation, we are deeply committed to ensuring the Wilson College enables students from all walks of life to transform their own lives while graduating with zero or low debt.”
Hinks said college officials worked with NC State’s Office of Scholarships and Financial Aid after Kochhar shared his idea. “One of our primary goals is to make Wilson College affordable for all, and Anil and Marilyn are helping us achieve it,” he said.
Gift for students
For many graduates, the donation removed a major financial burden just as they prepared to begin their careers or continue higher education.
Alyssa D’Costa, who earned her bachelor’s degree in fashion and textile management on May 8, told NC State Giving News the gift would greatly help her family. “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,” D’Costa said.
She will continue her studies through the college’s Accelerated Bachelor’s/Master’s program and plans to complete her master’s degree next spring.
University officials said the donation also strengthens the college’s “Wilson for Life” program, which focuses on long-term support for students and alumni through career guidance, networking opportunities and professional development.
Reducing student debt allows graduates to pursue jobs, business ideas and future education without major financial pressure. College leaders said that freedom can help students take risks and build stronger careers.