Almost every American bears the hardship of the student loan. Fortunately for students of Otis College of Art and Design in 2022, their loans are covered by the biggest donations ever from the Spiegel Family Fund.
Spiegel Family Fund Covers Student Loan
The Spiegel Family Fund shared a significant part of its savings with the Otis College of Art and Design, a nonprofit 501(c)3 institution. Art and design students from Los Angeles don’t have to worry about their student loan anymore – KORA Organics CEO Miranda Kerr and Snap Inc. CEO Evan Spiegel covered the costs in a 2022 donation. It became the biggest single present in college history! “Otis College is incredibly grateful for this historic gift from Miranda Kerr and Evan Spiegel, which will be life-changing for the Class of 2022 and their families,” said Charles Hirschhorn, President of Otis College of Art and Design. “Student debt weighs heavily on our diverse and talented graduates. We hope this donation will provide much-deserved relief and empower them to pursue their aspirations and careers, pay this generosity forward, and become the next leaders of our community.”
The family was very happy to help upcoming designers and art majors. Spiegel himself graduated from Stanford University with a B.S. in Engineering – Product Design, so he understands how important it is for the new generation. “Otis College of Art and Design is an extraordinary institution that encourages young creatives to find their artistic voices and thrive in a variety of industries and careers,” said Spiegel and Kerr. “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.”
Bright Future For The Youth
Apart from Spiegel and Kerr, Otis College’s 2022 Commencement included another honorary degree recipient – Bobby Berk, design expert and Emmy-nominated TV host of Queer Eye. The donation was announced at the time as well. Afterward, the students received a follow-up letter about their student loan payments. Why did the Spiegel Family Fund choose Otis College? It has been helping students since 1918. All individuals regardless of their background and economical status got degrees in Communication Arts, Digital Media, Environmental Design, Fashion Design, Fine Arts, Product Design, and Toy Design. 77% of students are people of color, and more than 90% find a job in arts after graduation. Alumni and faculty are Fulbright, MacArthur, and Guggenheim grant recipients, Oscar winners, legendary costume designers, leaders of contemporary art movements, and entrepreneurs.
They’ve been working for Apple, Urban Outfitters, Pixar, DreamWorks, Mattel, Nike, and Netflix. So, the gift will help the diverse college improve even more as time goes by – with no financial burden on its students. Of course, the Spiegel Family Fund is more than just education. It covers the field of philanthropy all across the nation, focusing on California the most.
“Through dedication to the arts, education, housing and human rights, the Fund supports organizations that contribute to human progress,” the official webpage of the foundation reads.
Sources: Business Wire, LA Times, NBC News, Spiegel Family Fund