Recent graduates from the Otis College of Art and Design received a game-changing blessing from quite the power couple: Snapchat co-founder Evan Spiegel and supermodel Miranda Kerr.
Spiegel and Kerr, who tied the knot in 2017, covered the tuition balances for the Los Angeles institution’s 2022 graduating class.
The immense blessing was announced at Otis College’s recent commencement ceremony over the weekend.
“We know that for most of you and your families, the shared burden of student debt is a heavy price that you paid for an exceptional Otis College education. We understand that this debt can compromise your future and limit your creative ambitions. We do not want to see this happen,” Otis College President Charles Hirschhorn said at the ceremony.
“We are pleased to announce today that Evan and Miranda, through their Spiegel Family Fund, have made the largest single gift in the history of Otis College,” he continued. “Their gift will enable you to repay your student loans.”
As the audience erupted into applause, Spiegel and Kerr — who both received honorary degrees at the ceremony — smiled and looked on.
Otis College of Art and Design grads learn during commencement that Snapchat CEO Evan Spiegel and his wife, Miranda Kerr, are paying off their student loan debt. pic.twitter.com/pBxqxBWfjV
— The Recount (@therecount) May 16, 2022
“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,” said Spiegel and Kerr noted 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.”
So my brother just graduated college and Evan Spiegel (CEO of Snapchat) and Miranda Kerr got honorary doctorate those two also paid for every graduates student debt 😭 my brother is graduating with zero student debt
— ブリスチャン (@iCantSkate) May 15, 2022
“I’m speechless,” Yaritza Velazquez-Medina, one of the new Otis College graduates, said of the donation.
All in all, 285 people had their private school tuition covered. Otis College lists its yearly tuition costs as $49,100 before financial aid. Factoring in fees and estimated expenses, a year at the L.A. art school could cost as much as $70,564.