Grads explode into cheers when told Snapchat's Evan Spiegel will pay off all student debts (video)

During the in-person commencement ceremony on Sunday for Otis College of Art and Design in Los Angeles, graduates received an amazing gift: no more student loan debt.

When Otis President Charles Hirschhorn told the graduating class of about 285 students that Snap CEO Evan Spiegel and his wife, KORA Organics CEO Miranda Kerr — who were sitting behind him — will pay off every student loan for the class of 2022, the room exploded in cheers and a few tears (video below). — Read the rest