Snapchat Co-Founder Offers To Pay Off Otis Graduate Student Loans 2022 | News
Image: Otis College of Art and Design
Otis College of Art and Design has received a large donation that will help pay student loans for students in the class of 2022. The money comes from Snap Inc. CEO Evan Spiegel and his wife Miranda Kerr, CEO and model of KORA Organics. , through their philanthropic foundation, the Spiegel Family Fund. This is the largest donation in the school’s history.
“Student debt weighs heavily on our diverse and talented graduates,” said Otis College of Art and Design President Charles Hirschhorn. “We hope this donation will bring them much-needed relief and enable them to pursue their aspirations and careers, to further this generosity, and to become the next leaders of our community.”
The donation was announced at the launch of Otis College in 2022, where Spiegel, Kerr and interior designer and weird eye host Bobby Berk received honorary degrees. Spiegel attended a high school summer program at Otis College at age 15 before attending Stanford University.
The donation will be used to establish two funds, one for the full repayment of existing graduate debt for loans certified by the school’s financial aid office, and the other called the Alternate Debt Repayment Fund. loan, which will be used to make charitable donations to graduate students with similar secured student loans outside of Otis College. According to the school, 77% of its students identify as students of color and more than 90% receive financial aid.
“The Otis College of Art and Design is an extraordinary institution that encourages young creatives to find their artistic voice and thrive in a variety of industries and careers,” said Spiegel and Kerr. “It is a privilege for our family to give back and support the Class of 2022, and we hope this gift will empower the graduates to pursue their passions, contribute to the world, and inspire humanity for years to come. “