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Snapchat co-founder Evan Spiegel, wife Miranda Kerr pay student debts for art school graduates

Graduates from Otis College of Art and Design got more than just their diplomas this weekend.

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Snapchat co-founder Evan Spiegel and his wife Miranda Kerr have paid the student debt for more than 200 students, the entire 2022 graduating class at the school, the Los Angeles Times reported.

Otis president Charles Hirschhorn made the announcement to the approximately 285 graduates, Forbes reported.

While Spiegel created the instant messaging app with two classmates from Stanford University, he attended summer classes at Otis while he was in high school.

“It changed my life and made me feel at home,” Spiegel said on Sunday, according to the Times. “I felt pushed and challenged to grow surrounded by super-talented artists and designers, and we were all in it together.”

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“Otis College of Art and Design is an extraordinary institution that extraordinary institution that encourages young creatives to find their artistic voices and thrive in a variety of industries and careers,” the couple said, according to Forbes. “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.”

Spiegel and Kerr’s payment is the largest the century-old school has ever received. The largest in the past was $10 million, Forbes reported.

Annual tuition for the school, which was established in 1918 and has about 1,200 students each year, was $49,110 for the 2022-23 school year, with 92% of students on financial aid.

Students were in shock when they found out that their education was paid for.

Farhan Fallahifiroozi had taken on more than $60,000 in student loans that are now paid off.

“I had so much debt. If it’s really all gone, it puts me so much ahead,” Fallahifiroozi told the times. His mother was crying when news of the gift was announced, he said.

Spiegel and Kerr received honorary degrees from the arts school along with Bobby Berk, a design expert and a host of “Queer Eye,” Forbes reported.

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