Snapchat co-founder Evan Spiegel and his wife-model Miranda Kerr made donations to repay student loans for the newest graduates of Otis College of Art and Design in Los Angeles.
The couple were invited as keynote speakers and awarded with honorary doctorates from the school on Sunday.
Without specifying an amount, the school said in a statement that the donation from the Spiegel Family Fund is the largest in the college’s history, and will “allow for the repayment of the outstanding student debt of students in the graduating Class of 2022.”
Th school’s graduating class had 285 students, according to the Los Angeles Times, which also says the college's previous largest gift was $10 million.
“Otis College of Art and Design is an extraordinary institution that encourages young creatives to find their artistic voices and thrive in a variety of industries and careers,” Spiegel and Kerr said in a statement.
“It is a privilege for our family to give back and support the Class of 2022, and we hope this gift will empower graduates to pursue their passions, contribute to the world, and inspire humanity for years to come,” they added.
Student loan debt surpassed $1.7 trillion in the United States in February 2021, Forbes reported.
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