(Gray News) – A California college grad won’t have to worry about paying off its student loans, thanks to a generous donation from model and businesswoman Miranda Kerr and SnapChat co-founder Evan Spiegel.
The Otis College of Art and Design in Los Angeles said the significant donation was the largest in the college’s history in a statement.
Charles Hirschhorn, president of the Otis College of Art and Design, said the school is grateful for the donation.
“Student debt weighs heavily on our diverse and talented graduates,” he said in a statement. “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 made through the Spiegel Family Fund, founded by Spiegel and Kerr in 2017. The fund is committed to supporting organizations that “contribute to human progress,” according to its website.
The donation was announced in early 2022 from Otis College, which featured Spiegel, who attended college while in high school. Kerr was also featured, along with “Queer Eye” host Bobby Berk.
The college said the donation will also be used to create the Alternative Loan Debt Repayment Fund, which it says will be used to make charitable donations to graduating students with similar college loans outside of the college. ‘Otis College.
Otis College of Art and Design is a nonprofit institution that was established in 1918. The school said it prepares students majoring in art and design in Los Angeles for “a vibrant future in the creative economy”.
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