Indian-American philanthropist wipes out loans for 176 graduates

An Indian-American philanthropist has paid off the student loans of 176 graduates, covering their remaining debt in full. The donor, who requested anonymity, made the contribution to a university in the United States, according to officials.

The gift eliminated the outstanding loan balances for the graduates, allowing them to start their careers without the burden of debt. University representatives said the donation was unexpected and will have a lasting impact on the recipients' financial futures.

The philanthropist's action is part of a broader trend of wealthy individuals using their resources to address student debt, which affects millions of Americans. The graduates were notified of the loan forgiveness in a letter from the university, expressing gratitude for the donor's generosity.

The identity of the donor has not been disclosed, but the university confirmed the donation was made by an Indian-American philanthropist. The graduates are now free from their loan obligations, which totaled an undisclosed amount.