NY University offers free tuition for all medical students

19 August, 2018, 02:11 | Author: Joy Garcia
  • New York University offers free tuition to all medical students

"Thanks to the extraordinary generosity of our trustees, alumni, and friends, our hope - and expectation - is that by making medical school accessible to a broader range of applicants, we will be a catalyst for transforming medical education nationwide", said NYU Langone Health's board chair Kenneth G. Langone.

This decision to cover medical tuition has been followed at other schools in the nation to some degree. Fresne also emphasized that although medical school is expensive, the federal government offers financial loans to cover the full cost of tuition and repayment plans take into consideration income. Last month, an anonymous donor gave a $3 million gift to the University of Houston's College of Medicine meant to fund the full tuition for the 30 students who will matriculate at the new medical school when it opens in fall of 2020. Now thousands of medical students and the general public, who are in need of a balanced and affordable medical array of services, will be able to take that commitment right to the bank.

With high medical education costs, some graduates choose to pursue more lucrative specialties, creating a shortage in lower-paying fields.

NYU Langone says 75 percent of doctors graduate in debt at an average of $200,000. However, she said some students feel pressure to to only pursue high-paying medical jobs due to their debt.

At the Cleveland Clinic Lerner College of Medicine, which focuses on training physician scientists, all students have received full-tuition scholarships since 2008 regardless of financial need.

NYU's new class of medical students got more than just a white coat this morning, during the school's annual White Coat Ceremony.

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"Since NYU School of Medicine is offering free tuition, my mom's dream of me being a doctor will come true", another person said. It has raised about $450 million through endowments so far.

Tuition for NYU School of Medicine in the coming year, which is now covered under the scholarships, is $55,018.

Dr Robert Grossman said that "aspiring physicians and surgeons should not be prevented from pursuing a career in medicine because of the prospect of overwhelming financial debt". Yet by 2030, as the prevalence of chronic disease continues to skyrocket and the population of Americans over age 65 years increases by 50 percent, the primary care physician shortage may end up larger than that of every other specialty combined.

Grants, much like merit and financial aid, Rivera explains, are made only after students have chosen their career path.

The decision by NYU to provide free tuition to all of its students may cause ripples well beyond a four-block stretch along the East River.

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