N.C. State Commencement Surprise: Full Loan Repayment for Graduates
Graduates from North Carolina State University were taken aback during their commencement when the speaker promised to alleviate some of their student debt and offer them increased liberty to chase their aspirations.
Anil Kochhar, whose father was a notable alumnus of N.C. State, shared his and his wife Marilyn’s intention to cover the remaining loans for all graduates from their final year at the Wilson College of Textiles during the ceremony held in Raleigh on Friday.
“In honor of our father, Prakash Chand Kochhar, Marilyn and I are thrilled to say that we’re providing a graduation gift to fully pay off the final year of loans accrued by Wilson College graduates for the 2025-26 academic year,” Kochhar declared.
This generous gesture was a tribute to his late father, who came to Raleigh from Punjab, India, back in 1946 to pursue studies in textile manufacturing.
The audience erupted in cheers, giving the Kochar family a standing ovation as students couldn’t believe their loans were being wiped out.
“Marilyn and I hope that, as you leave Reynolds Coliseum today, you not only carry your degree but also have more freedom to chase your goals, take chances, and create the lives you’ve worked hard for,” he continued.
A total of 176 graduates received bachelor’s degrees, while another 26 completed their master’s. Many students felt that this unexpected financial help could reshape their futures significantly.
One graduate, Alyssa DoCosta, studying fashion and textile management, expressed her gratitude: “As the daughter of immigrants, this support will mean a lot for my family and me. I feel incredibly fortunate to have this chance.”
Prakash Chand Kochhar was one of the early Indian students to study at the university, having secured a scholarship to what was then a textile school. He completed both his bachelor’s and master’s degrees, forging a global career until his untimely passing in 1985.
In recent years, the Kochar family has made substantial contributions to the university, including funding scholarships and programs. Still, Friday’s gesture was perhaps the most unforgettable one to date.
“My father could never have foreseen this—me here speaking, all of you here too,” Kochhar reflected.
“A new generation is influenced by a different environment but united by the same hopeful spirit that brought him here long ago. That’s what today signifies,” he added.
He remarked, “Eighty years ago, a young man journeyed thousands of miles from India to Raleigh, filled with hope and determination. He never envisioned the paths his journey would take or that one day his son would stand here, addressing graduates at the very institution that welcomed him.”
University representatives noted that the Kochars coordinated with school leadership and the Office of Scholarships and Financial Aid to finalize the repayment of loans ahead of the graduation event.
“We are immensely thankful to Anil and Marilyn for this incredible investment in our new students at Wilson,” stated David Hincks, dean of the Wilson College of Textiles.
“Making Wilson College affordable and accessible to everyone is one of our key objectives, and Anil and Marilyn are helping us reach that goal,” Hincks concluded.
