Indian-origin entrepreneur, wife clear loans of 176 US grads. Who's Anil Kochhar?

Students attending the graduation ceremony at North Carolina State University Wilson College of Textiles received a pleasant surprise after an Indian-origin entrepreneur and his wife announced they would pay off the student loans of at least 176 graduating students.

The announcement by alumnus and donor Anil Kochhar came during Wilson College's commencement ceremony on Friday (May 8). Kochhar revealed the special graduation gift for the Class of 2026 as he paid tribute to his late father, Prakash Chand Kochhar, who travelled from India to the US to study at NC State in 1946.

"It is my privilege to announce that, in honour of my father, Marilyn and I will clear all outstanding final-year education loans for Wilson College graduates from the 2025–26 academic year," Kochhar told graduates, adding, "We hope you walk out of Reynolds Coliseum today not just with your degree, but with the freedom to chase your dreams, take bold risks, and build the future you’ve worked so hard for."

Kochhar's heartfelt donation, made with the goal of "making Wilson College affordable for all", sparked widespread excitement and emotion among the graduates. The audience erupted into a prolonged standing ovation, cheering and applauding the couple’s extraordinary gesture.

WHO IS INDIAN-AMERICAN ENTREPRENEUR ANIL KOCHHAR?

Anil Kochhar is an Indian-American businessman, philanthropist, and major donor to North Carolina State University’s (NC State) Wilson College of Textiles.

Kocchar is the vice chairman and co-founder of Outcomes Health Info Solutions, a software and technology firm specialising in healthcare technology serving pharmacies, payers, and pharmaceutical companies in the US.

According to a report by North Carolina State University's news outlet, Giving News, Anil's father, Chand, who was born in Punjab, arrived at NC State in 1946, earning his bachelor’s degree in textile manufacturing in 1950 and his master's degree in the same programme in 1952.

"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 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," the institute reported Anil Kochhar as saying about his father.

David Hinks, dean at Wilson College of Textiles, was thrilled when Kochhar shared this intention. Hinks and the college leadership quickly coordinated with NC State's Office of Scholarships and Financial Aid to ensure the Kochhars' vision could come to fruition.

"I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni," Hinks told the 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. One of our primary goals is to make Wilson College affordable for all, and Anil and Marilyn are helping us achieve it," Hinks also said.

"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 Giving News.

KOCHHAR'S PHILANTHROPY COMES WHEN AMERICAN STUDENTS ARE STRUGGLING WITH DEBT

Kochhar's contribution to clear the final-year student loan debts of Wilson College graduates carries even greater significance against the backdrop of America's staggering student debt crisis.

As of early 2026, total outstanding student loan debt in the United States has crossed $1.83 trillion, affecting over 42.8 million borrowers. The average federal student loan balance stands at approximately $39,500, while the typical debt burden for recent bachelor’s degree graduates often ranges between $29,000 and $43,000.

This contribution comes even as anti-Indian racism and hate speech in the US have surged to concerning levels in recent months, particularly amid heated debates over the H-1B visa programme (which has been found to be driving anti-Indian discourse on social media) as well as unfounded allegations from MAGA-aligned influencers of Indian immigrants taking over towns and cities in the US.

By personally wiping out the final-year education loans for the Class of 2026, Anil and Marilyn Kochhar have provided meaningful relief to these young graduates, freeing them from a burden that delays homeownership, retirement savings, and major life milestones for millions of Americans.

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