‘Greater Freedom to Pursue Goals’: Indian-Origin Philanthropist Honors Father’s Legacy, Pays Off Loans for 176 US Graduates

Graduation ceremonies are typically defined by speeches and diplomas, but for the Class of 2026 at North Carolina State University’s Wilson College of Textiles, it became a moment of pure disbelief. During the commencement at Reynolds Coliseum in Raleigh, philanthropist Anil Kochhar stunned the room by announcing he would pay off the final-year education loans for all 176 graduating seniors.

Kochhar, an Indian-origin businessman and the event’s keynote speaker, took the stage wearing a red NC State cap to deliver the news. The gesture was made alongside his wife, Marilyn, to honor the legacy of his late father, Prakash Chand Kochhar, an alumnus of the university.

"It is my privilege to announce today that, in honour 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 the cheering crowd.

Empowering the Next Generation of Textile Leaders

The massive gift specifically targets the debt incurred by bachelor's degree recipients during their senior year. While 176 undergraduates are the primary beneficiaries, the ceremony also celebrated 26 master's students, according to Axios Raleigh.

As the audience rose for a standing ovation, Kochhar explained the motivation behind the move. "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 said.

Immediate Impact on Families

For many students, the news represents an immediate shift in their financial futures. Alyssa D'Costa, a fashion and textile management major, expressed how much the relief meant to her family. "As a daughter of immigrants, this money helps my family and me a lot, and I'm really fortunate to have an opportunity like this," she shared with the university.

University officials noted that the Kochhars worked closely with school leadership and the Office of Scholarships and Financial Aid to coordinate the gift. David Hinks, Dean of the Wilson College of Textiles, praised the couple's generosity. "I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni," Hinks stated. "One of our primary goals is to make the Wilson College affordable for all, and Anil and Marilyn are helping us achieve it."

An 80-Year Legacy Comes Full Circle

The donation is deeply rooted in a story that began eight decades ago. Kochhar used the moment to reflect on his father’s journey from Punjab, India, to North Carolina in 1946.

"Eighty years ago, a young man travelled thousands of miles from India to Raleigh with little more than hope and determination," Kochhar recounted. "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."

Prakash Chand Kochhar studied textile manufacturing at NC State, earning his bachelor's in 1950 and his master's in 1952. He went on to a successful career at Industrial Rayon in New York City before passing away in 1985. Today, the Wilson College of Textiles remains the only institution in North America dedicated solely to the field. For the Kochhar family, the college represents the foundation of a three-generation legacy.

"My father found not just an education, but an opportunity that allowed him to build a life, support his family, and begin a legacy that continues today. And it will never stop, never," Anil Kochhar told the graduates.
 

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