By: Economic & Finance Report
Snapchat CEO Evan Spiegel gave his former college a great monetary gift. He paid of $10 million worth of college debt, for the recent college grads from his former college (Otis College of Art & Design). Spiegel and his wife Miranda Kerr stated they would cover all student debt expenses for the graduating class of 2022.
The gift is the largest donation received by Otis College of Art & Design. Mr. Spiegel went to Otis College before attending Stanford University. The donation issued by Spiegel and Kerr will be used to create the Alternative Loan Debt Repayment Fund at the liberal arts institution. Over ninety percent of students who attend Otis College receive financial aid. This gift presented by the Spiegel’s will go a long way to help the graduating 2022 class pay off their burdensome debt accumulated over the years. -SB
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