Snapchat CEO Evan Spiegel, Miranda Kerr pay art school graduates’ student loans

Spiegel had taken design classes at Otis College of Art and Design during high school before matriculating to Stanford University.

As Sunday’s commencement ceremony for the Otis College of Art and Design neared its end, graduates prepared to toss their caps and head out into the professional world. They would be armed with new degrees and, in many cases, saddled with student loans.

Some 77% of the student body identifies as people of color, and over 90% receive financial aid, according to the Los Angeles nonprofit institution. Its president, Charles Hirschhorn, acknowledged from the podium that while the college experience offers many gifts, it also comes at a cost.

“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. “We understand that this debt can compromise your future and limit your creative ambitions. We do not want to see this happen. We want to empower your imagination, your creativity and innovation.”

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