North Carolina State graduates were in for a surprise when their commencement speaker vowed to erase some of their student debt, offering the class “greater freedom” to pursue their goals.

Anil Kochhar, the son of a notable late NC State alumnus, revealed that he and his wife, Marilyn, would pay off all final-year loans for the graduates during the Wilson College of Textiles commencement ceremony in Raleigh on Friday.

“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 announced.

The emotional gift honored Kochhar’s late father, Prakash Chand Kochhar, who traveled from Punjab, India, to Raleigh in 1946 to study textile manufacturing at NC State.

The crowd erupted in cheers and gave the Kochhars a standing ovation as stunned students realized their senior-year loans were gone.

“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,” Kochhar added.

The graduating class consisted of 176 students who received their bachelor’s degree and another 26 earned a master’s degree, according to Axios Raleigh,

For many students, the surprise payout could mean a dramatically different future.

“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 university.

Prakash Chand Kochhar arrived in Raleigh on a scholarship to attend the then School of Textiles, where he was believed to be only the second Indian student ever to enroll at the university.

He went on to earn bachelor’s and master’s degrees from the school and build a career that took him around the world before his unexpected death in 1985.

The Kochhar family has made several major donations to the college in recent years, including scholarships and funding for faculty and graduate programs — but Friday’s graduation surprise may have been their most memorable gift yet.

“My father could not have imagined this moment. Not just me standing here, but all of you sitting here,” Kochhar said.

“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.”

“Eighty years ago, a young man traveled thousands of miles from India to Raleigh with little more than hope and determination,” he added.

“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.”

University officials said the Kochhars coordinated with school leadership and the Office of Scholarships and Financial Aid to arrange the debt payoff before graduation.

“I could not be more grateful to Anil and Marilyn for this extraordinary investment in our newest Wilson for Life alumni,” Wilson College of Texiles Dean David Hinks said.

“One of our primary goals is to make the Wilson College affordable for all, and Anil and Marilyn are helping us achieve it,” Hinks said.