Indian-American philanthropist Anil Kochhar and his wife, Marilyn, made a life-changing announcement at North Carolina State University's Wilson College of Textiles graduation ceremony on May 8. They committed to covering the entire final-year education loans for 176 bachelor's degree graduates from the 2025-26 academic year, sparking an eruption of cheers from the students at Reynolds Coliseum in Raleigh.
Kochhar expressed his hope that this significant gift would empower the graduates to pursue their aspirations without the immediate burden of financial pressure. "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 stated during his address.
A Legacy of Education and Philanthropy
The generous gesture was made in honor of Anil Kochhar’s late father, Prakash Chand Kochhar. In 1946, Prakash Chand Kochhar embarked on a journey from Punjab, India, to Raleigh, North Carolina, to study at what is now the Wilson College of Textiles. He was only the second Indian student to enroll at the institution, earning his bachelor's degree in 1950 and a master's in 1952 before entering the textile industry.
Anil Kochhar reflected on his father's pioneering spirit: "Eighty years ago, a young man travelled 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 emphasized how his father could never have imagined the profound impact his educational journey would have, culminating in his son addressing a graduating class at the very same college.
Continuing the Family's Commitment
The Kochhar family has a long history of supporting North Carolina State University. After Prakash Chand Kochhar's passing in 1985, his wife, Christine Hayes Kochhar, whom he met at the college, established the Prakash Chand Kochhar Memorial Textile Scholarship in 1986. Anil and Marilyn Kochhar have since expanded this legacy through additional endowments, including the Prakash Chand Kochhar Dean’s Chair Endowment, the Prakash Chand Kochhar Endowed Faculty Fund, and the Prakash Chand Kochhar Graduate Support Endowment, all aimed at supporting students and faculty within the university.
This latest act of philanthropy, covering the student debt paid off for a substantial portion of the graduating class, is expected to provide these young professionals with a stronger start as they embark on their careers, free from the immediate stress of loan repayments.