Miranda Kerr, husband of Evan Spiegel, to pay millions of student debts

To live

Australian supermodel Miranda Kerr and her husband Snapchat co-founder Evan Spiegel will pay off college debt to American students in the millions of dollars.

Kerr and Spiegel were special guests at the graduation ceremony at Otis College of Art and Design in Los Angeles on Sunday (local time), where both received honorary degrees.

Shortly after the 284 graduates received their diplomas, they were told that Kerr and Spiegel would complete their student loan payments, a gift estimated to be worth more than $ 10 million ($ 14 million).

College President Charles Hirschhorn to the applause of applause and applause announced the good news.

“We know that for most of you and your families, the total burden of student debt is the great price you paid for an exceptional education at Otis College,” he said.

“We understand that this debt could jeopardize your future and limit your creative ambitions. We don’t want that to happen. “

“We are pleased to announce today that Evan and Miranda through their Spiegel Family Foundation have made the greatest gift in the history of Otis College. Their gift will allow you to pay student loans.

Although Mr Hirschhorn did not disclose the exact cost of the donation, he said it was the largest for the 104-year history of the school, surpassing the college’s previous record donation of $ 10 million.

“We hope this gift will allow you to do great things and pay in advance, as well as do great things for others,” he said.

The parents of the graduates shared their gratitude on social networks.

“As parents of a graduate, we appreciate the generous gift of Miranda Kerr and Evan Spiegel. We will never forget that, ”one wrote.

“My son will benefit from this generous blessing of the gift! We are incredibly grateful, ”another commented.

“Our family is very grateful for your generosity – thank you so much, Miranda and Evan!”

The 31-year-old Spiegel became the world’s youngest billionaire in 2015 following the success of his Snapchat app.

He was a co-founder of the social networking platform in 2011 along with two former classmates at Stanford University.

Now, reportedly worth $ 13.8 billion ($ 19.7 billion), Spiegel went to Otis College in high school, telling alumni how the college’s summer classes “changed my life”.

“It changed my life and made me feel at home. I felt driven and challenged to grow up among super-talented artists and designers, and we were all in it together. ”

The 39-year-old Kerr, who is a native of Australia, is a supermodel who has become a business woman.

A native of Sydney, Kerr was a fashion designer for major fashion labels, including Victoria’s Secret, but after marrying Spiegel in 2017, remained a lesser celebrity.

In 2009, she launched her skincare company KORA Organics. It is now worth $ 13.2 billion ($ 18.9 billion).

Across the U.S., students owe a total of $ 1.75 trillion ($ 2.5 trillion) in loans.

President Joe Biden has donated $ 16 billion ($ 22.9 billion) in federal student loans to individual borrowers – and is considering further expansion.

See the emotional announcement here: