Evan Spiegel, one of college’s most successful graduates and a member of the Class of 2022 at Otis College of Art and Design, has offered to pay off all of the student loan debt incurred by that year’s graduating class of 284 students.
Spiegel’s wife and partner in the Spiegel Family Fund, Miranda Kerr, who is also the creator of Kora Beauty, contributed an additional amount to the contribution, bringing the total to a record-breaking amount that has not been published.
Spiegel, who attended Otis for summer courses during his senior year of high school, shared his experience with the graduating class, saying, “It altered my life and made me feel at home.”
Even though a liberal arts degree from Otis may cost up to $50,000, some of the students who benefited from Spiegel’s generosity had already piled up $70,000 or more in debt.
Some seniors said that it was a big weight lifted off their shoulders, particularly in light of the fact that there are few apparent career routes and the epidemic continues to cause work issues.
According to Charles Hirschhorn, President of Otis College of Art and Design, “Student debt weighs hard on our varied and bright alumni.
We hope that this contribution will give them with the much-needed respite they deserve and the empowerment to follow their ambitions and vocations, pay this kindness forward, and become the future leaders of our community”.
Farhan Fallahifiroozi, a graduate, said, “My mum was sobbing. They were very concerned about it for me as I had so much debt. ”