![]() In 2019, billionaire Robert Smith donated $34 million to Morehouse College, the historically Black men’s school in Atlanta, to wipe out student loan debt for that year’s graduating class. Kerr and Spiegel are not the first to make such a generous gesture to college grads. The Spiegel Family Fund’s donation will be used to create two funds for the new graduating class: one for loans that have been certified through Otis’s financial aid office, and another that will go toward charitable gifts to students with independent loans. Photo courtesy of Otis College of Art and Design, Los Angeles. Snapchat cofounder Evan Spiegel and model Miranda Kerr, who are repaying the student loan debt for the class of 2022 at Otis College of Art and Design, at the school’s commencement ceremony with Bobby Berk, star of Netflix’s Queer Eye. “It changed my life and made me feel at home.… I felt pushed and challenged to grow surrounded by super talented artists and designers, and we were all in it together,” Spiegel told the graduating class. ![]() But long before his success in tech, Spiegel took summer classes at Otis during high school, counting it as a formative experience. Spiegel, now 31, founded Snapchat in 2011 and became the world’s youngest billionaire in 2015, when he was 25. We want to empower your imagination, your creativity and innovation.” “We understand that this debt can compromise your future and limit your creative ambitions. “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,” he said. ![]() ![]() ![]() Members of the class of 2022 at Otis College of Art and Design, Los Angeles, learn that their student loans will be repaid courtesy of Snapchat cofounder Evan Spiegel and model Miranda Kerr. ![]()
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