Snapchat's CEO & Miranda Kerr Shocked Art School Grads & Paid Off All Their Student Loans

After hearing this story, you're going to wish you were a graduating art student at Otis College of Art and Design.

Snapchat CEO and co-founder Evan Spiegel, along with his model wife Miranda Kerr, surprised this year's graduating class at the Los Angeles art school by promising to pay off all their student loans.

That's 285 students who will now be debt-free to start their careers!

The school president, Charles Hirschhorn, announced the good news to the students during their graduation ceremony at Westin Los Angeles Airport Hotel, reported The Los Angeles Times.

Th shocked students reacted by gasping, jumping, crying and hugging each other.

"I'm speechless," said graduating student Velazquez-Medina, per the Times.

A live-streamed video from their commencement shows the students celebrating.

In a statement posted about the announcement, Hirschhorn said the school 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.”

The move comes after U.S. President Joe Biden said he would take a "hard look" at forgiving more student loan debt across the country.

“Student debt weighs heavily on our diverse and talented graduates," Hirschhorn wrote. "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 donation wasn't just a random act of kindness by the couple. Spiegel has a sweet connection to the school, which prompted him to make the hefty donation.

Before creating the social media platform Snapchat with two of his former Stanford classmates, Spiegel took classes at Otis College of Art and Design during the summertime while he was still in high school.

He addressed the graduating class during the commencement ceremony and told him how the school "changed [his] life and made [him] feel at home."

"I felt pushed and challenged to grow, surrounded by super talented artists and designers, and we were all in it together," said Spiegel.

Together with his wife, Kerr, Spiegel founded The Spiegel Family Fund, which is dedicated to providing funds to the art field and prioritizing housing and human rights.

In a statement, the couple called the college "an extraordinary institution that encourages young creatives to find their artistic voices and thrive in a variety of industries and careers."

"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."