New York University to offer free tuition for all medical students

18 August, 2018, 00:56 | Author: Andrea Terry
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 FREE TUITION NYU

The scholarship covers the full cost of tuition, which this year amounts to $55,018.

Every student at the New York University School of Medicine is getting a full ride.

Medical schools across the US have attempted to respond to the student debt crisis by increasing their fundraising efforts to recruit competitive applicants, reduce student debt, and give graduates more flexibility with their career paths.

About 75% of medical students across the country graduated with debt in 2017.

According to the Association of American Medical Colleges, the median debt of a graduating medical student in the United States is US$202,000 - while 21% of doctors who graduate from a private school such as NYU face over US$300,000.

"This decision recognizes a moral imperative that must be addressed, as institutions place an increasing debt burden on young people who aspire to become physicians", Robert Grossman, the dean of the medical school, said in a statement.


New York University has a plan to encourage more medical students to pursue careers in lower-paying specialties: alleviate the six-figure debt that comes with pursuing a medical degree. NYU leaders also hope the fund will enable the school to attract more diverse candidates who won't be deterred from pursuing a career in medicine because of debt.

Rivera said the daunting prospect of financial debt has an "adverse effect on patient care" by "scaring away" talented students from a career in medicine and, in effect, causing physician shortages and a lack of diversity. So far NYU has raised $450 million.

School officials said they have been working towards making the scholarship a reality for 11 years.

N.Y.U.'s School of Medicine announced Thursday it will cover tuition costs for all of its students - regardless of their financial standings or backgrounds. Home Depot co-founder Kenneth Langone, whose name adorns the health system affiliated with the medical school, contributed $100 million.

Students would still be on the hook for other costs related to their attendance, such as room and board, fees, health insurance, licensing exam charges. The financial support and commitment it takes for a school to provide such a broad incentive to students isn't realistic for all schools, said Julie Fresne, director of student financial services at the Association of American Medical Colleges.

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