Australian model Miranda Kerr and her husband Evan Spiegel have paid off an entire class’s student loans in an absolutely legendary move by the billionaire couple.
The couple attended the Otis College of Art and Design graduation ceremony where the announcement was made, making sure there wasn’t a dry eye in the building.
The donation was made through their fund, the Spiegel Family Fund, and was $10 million US ($14 million AUD).
College President Charles Hirschhorn made the announcement on stage at the Westin Los Angeles Airport Hotel.
He told the Class of 2022: “We know that for most of you and your families, the shared burden of student debt is a heavy price you have paid for an exceptional education at Otis College.
“We understand that this debt can jeopardize your future and limit your creative ambitions. We don’t want that to happen.
“We are pleased to announce today that Evan and Miranda, through their Spiegel Family Fund, have made the largest donation in Otis College history.
“Their donation will allow you to pay your student loans.”
Expect a standing ovation.
Spiegel, who co-founded Snapchat, took design classes in college when he was in high school.
It made sense for the couple to make the donation to students, with their Spiegel Family Fund focusing on the arts, education, housing and human rights.
The couple told the United States Today’s show“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.
“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. “
What a graduation present.
According to 9Honey90% of students had taken out loans to fund their education, while 77% of students are people of color.
Kerr and Spiegel also received honorary doctorates of fine arts at the ceremony, as did Bobby Berk of weird eye.
Berk commented on the couple’s donation on Instagram, saying, “What a beautiful moment watching the faces of these students and families as it sank in that they’re not just leaving with a degree that they have worked so hard, but also walk away debt free.
“Well done Evan and Miranda, well done! »