Otis College of Art and Design Announces Donation from the Spiegel Family Fund to Repay Student Loans for the Class of 2022
Otis College of Art and Design ("Otis College"), a nonprofit 501(c)3 institution that prepares students in the art and design capital of Los Angeles for a dynamic future in the creative economy, is honored to receive a significant donation from KORA Organics CEO Miranda Kerr and Snap Inc. CEO Evan Spiegel through the Spiegel Family Fund. The donation will allow for the repayment of the outstanding student debt of students in the graduating Class of 2022. This is the largest single gift in the history of Otis College and will reduce student debt for emerging artists and designers and their families.
"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."
"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, founders of The Spiegel Family Fund. "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."
The donation was announced at Otis College's 2022 Commencement, which featured three honorary degree recipients, including Spiegel, who took classes at Otis College as a high school student prior to enrolling at Stanford University; Kerr; and Bobby Berk, design expert and Emmy-nominated TV host of "Queer Eye."
Following the ceremony, graduating students received a letter outlining how this generous gift will help them pay back their educational loans borrowed during their time at Otis College that have been certified through its Financial Aid Office. The Spiegel family donation will also be used to create the Alternative Loan Debt Repayment Fund, which the College will use to make charitable gifts to graduating students with similar educational loans secured outside of Otis College.
Since 1918, Otis College has educated a diverse community of students and supported their passions in established and emerging creative sectors, including Communication Arts, Digital Media, Environmental Design, Fashion Design, Fine Arts, Product Design, and Toy Design, and has prepared them for a rapidly evolving global society. Otis College is one of the most diverse colleges in the U.S., with 77% of the student body identifying as students of color; over 90% receive financial aid; and upon graduation, over 90% find employment in the creative economy. This gift will help advance the College's goal of empowering students ? regardless of background or socioeconomic status ? to pursue their dreams, uninhibited by the burden of financial debt.
Otis College offers a range of services and resources to support its diverse student body, including the newly established Charles White Art and Design Scholarship, a four-year, full-tuition undergraduate scholarship for students from underrepresented groups.
ABOUT OTIS COLLEGE
Established in 1918, Otis College of Art and Design is a nonprofit 501(c)3 institution that prepares students in the art and design capital of Los Angeles for a dynamic future in the creative economy. The College educates a diverse community of over 1,200 students in a supportive setting to become highly skilled professionals in established and emerging creative sectors. Alumni and faculty are Fulbright, MacArthur, and Guggenheim grant recipients, Oscar winners, legendary costume designers, leaders of contemporary art movements, entrepreneurs, and design stars at influential companies including Apple, Urban Outfitters, Pixar, DreamWorks, Mattel, Nike, and Netflix. Since 2007, the College has commissioned the Otis College Report on the Creative Economy, an invaluable tool that assesses the tremendous influence and economic impact of the creative sectors.
ABOUT THE SPIEGEL FAMILY FUND
Established in 2017, The Spiegel Family Fund is committed to philanthropy in California and beyond. Through dedication to the arts, education, housing, and human rights, the Fund supports organizations that contribute to human progress. More information at https://www.spiegelfamilyfund.com.
News published on and distributed by:
