The co-founder of Snapchat and his wife are paying it forward.

On Monday, Otis College of Art and Design announced that the were honoured to received a donation from Evan Spiegel and Miranda Kerr to repay the student debt for 2022’s graduates.

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“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 said in a statement. “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.”

Spiegel and Kerr made the donation to the Los Angeles-based school through their Spiegel Family Fund.

“Otis 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.”

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Kerr and Spiegel, who took classes at Otis College during high school before going to Stanford University, also received honourary degrees at the college’s 2022 Commencement, where the donation was announced.

“Queer Eye” star Bobby Berk also received an honourary degree during the event.