Otis College of Art and Design Announces Spiegel Family Fund Donation to Repay Class of 2022 Student Loans

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LOS ANGELES–(BUSINESS WIRE)–Otis College of Art and Design (“Otis College”), a 501(c)3 nonprofit institution that prepares students in the art and design capital of Los Angeles for a vibrant future in the creative economy, is honored to receive a significant gift from KORA Organics CEO Miranda Kerr and Snap Inc. CEO Evan Spiegel through the Spiegel Family Fund. The donation will help repay outstanding student debt for students in the Class of 2022. This is the largest donation in Otis College history and will reduce student debt for emerging artists and designers and their families.

“Otis College is extremely grateful for this historic, life-changing gift from Miranda Kerr and Evan Spiegel 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 bring them much-needed relief and enable them to pursue their aspirations and careers, further this generosity, and become the next leaders of our community.

“The Otis College of Art and Design is an extraordinary institution that encourages young creatives to find their artistic voice 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 the graduates to pursue their passions, contribute to the world, and inspire humanity for years to come. ”

The donation was announced at the launch of Otis College in 2022, which included three honorary degree recipients, including Spiegel, who attended Otis College as a high school student before graduating. enroll at Stanford University; Kerr; and Bobby Berk, design expert and Emmy-nominated TV host for “Queer Eye.”

After the ceremony, graduating students received a letter explaining how this generous donation will help them repay their student loans borrowed while at Otis College and certified by its financial aid office. The Spiegel family donation will also be used to create the Alternate Loan Debt Repayment Fund, which the College will use to make charitable donations to graduate students with similar secured student loans outside of Otis College. .

Since 1918, Otis College has nurtured a diverse community of students and nurtured their passions in established and emerging creative fields including communication arts, digital media, environmental design, fashion design, fine arts, product design and toy design, and prepared them for a rapidly changing global society. Otis College is one of the most diverse colleges in the United States, with 77% of students identifying as students of color; more than 90% receive financial assistance; and after graduation, more than 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 new Charles White Art and Design Scholarship, a four-year undergraduate scholarship for students from underrepresented groups.

ABOUT OTIS COLLEGE

Founded in 1918, Otis College of Art and Design is a 501(c)3 nonprofit institution that prepares students in the art and design capital of Los Angeles for a vibrant future in the creative economy. . The College educates a diverse community of over 1,200 students in a supportive environment to become highly skilled professionals in established and emerging creative industries. Alumni and faculty are Fulbright, MacArthur and Guggenheim scholarship recipients, Oscar winners, legendary costume designers, leaders of contemporary art movements, entrepreneurs and design stars at influential companies such as than Apple, Urban Outfitters, Pixar, DreamWorks, Mattel, Nike and Netflix. Since 2007, the College has commissioned the Otis College Creative Economy Reportan invaluable tool that assesses the enormous 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. By focusing on the arts, education, housing and human rights, the Fund supports organizations that contribute to human progress. More information at https://www.spiegelfamilyfund.com.

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