Indian-American philanthropist wipes out loans for 176 graduates

An Indian-American philanthropist has cleared the student loan debt of 176 graduates from a university in the United States. The donor, who has not been publicly named, covered the outstanding balances for the graduating class, allowing them to start their careers without the burden of debt.

The gesture was announced during the university's commencement ceremony, surprising the graduates and their families. The philanthropist's contribution totaled several hundred thousand dollars, according to university officials.

The graduates, who were pursuing degrees in various fields, learned of the debt forgiveness when the philanthropist made the announcement. Many expressed shock and gratitude, saying the move would allow them to pursue career opportunities without financial constraints.

University administrators praised the donor's generosity, noting that student loan debt is a significant issue for many graduates. The act is part of a broader trend of wealthy individuals using their resources to address student debt in the United States.

The philanthropist, who has a history of supporting educational initiatives, asked to remain anonymous. The university said it hopes the gesture will inspire others to contribute to similar causes.