Snapchat CEO Evan Spiegel and Miranda Kerr pay off entire room of college grads student loans

A group of graduating college students were overjoyed to learn that their student loans had been paid off by Snapchat CEO Evan Spiegel and his wife, supermodel Miranda Kerr. 

Evan Spiegel was just 25-years-old when he became a billionaire after launching Snapchat with his fellow Stanford University alumnus Bobby Murphy and Reggie Brown.

However, he has shown his philanthropist side on many occasions. Whether that be donating millions of dollars to charity or when he set up the non-profit organization Snap Foundation, which seeks to build creative economic pathways for underrepresented youths in Los Angeles.

Adding to his list of good deeds, Spiegel and Victoria’s Secret Angel Miranda Kerr helped an entire group of university graduates with their economic worries.

Spiegel and Kerr pay off college grads’ tuition fees

285 students at the Otis College of Art and Design were blown away after they learned that their tuition had been paid off by Spiegel and Kerr during their graduation ceremony. With Spiegel and Kerr both attending the event in person, the announcement was made by the school’s president Charles Hirschhorn.

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“We know that for most of you and your families the sheer burden of student debt is a heavy price that you paid for an exceptional Otis College education,” Hirschhorn said. “We understand that this debt can compromise your future and limit your creative ambitions. We do not want to see this happen.”

He continued: “So, 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. Their gift will enable you to repay your student loans.” Unsurprisingly, the room erupted with applause as the students celebrated the news.

It’s not clear how much Spiegel and Kerr donated to the college. However, it was more than the college’s previous largest donation which was $10 million.

Spiegel has a particular soft spot for Otis as he took summer design classes at the university before going to Stanford and making his billions with Snapchat.

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According to the L.A. Times, Spiegel said to the budding graduates: “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.”