NYU Medical School Students Will Get Free Tuition
- Author: Santos West Aug 18, 2018,
Aug 18, 2018, 0:58
In a move that is a first among major USA medical schools, New York University is offering free tuition for all of its medical students. Tuition is a key contributor here - 77 percent and 57 percent of African-American and Hispanic medical students respectively report educational debt in excess of $150,000, and African-American students are 2.7 times more likely than others to accumulate that much debt.
Grossman said covering tuition for all students was at the forefront of his goals when he became dean about 12 years ago.
Graduates move towards higher-paying areas of medicine over paediatrics, primary care or gynaecology due to their "staggering student loans".
Medical school officials announced the scholarships today at NYU Langone Health's Tisch Hospital in Manhattan.
NYU raised more than $450 million of the roughly $600 million it estimates it will need to fund the tuition package in perpetuity, including $100 million from Home Depot founder Kenneth Langone and his wife, Elaine.
Robert Grossman, dean of the NYU School of Medicine, said the decision is an attempt to tackle debt burden on aspiring physicians. Nine students already have had their tuition completely covered under their M.D./PhD programs.
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.
The action could also give graduates more career choices so they won't be pressured into having their future be influenced by student loan burdens. Among those with debt, the average student owed almost $191,000, which rises to $202,000 among private medical school graduates.
Incoming medical students and those already enrolled will receive an annual scholarship of $55,018 to cover tuition starting this upcoming academic year, NYU said.
Students must still however cover the cost of living expenses and accommodation. The scholarships were expected to offer free tuition to one-fifth of the school's students, with others receiving aid to meet their financial need. 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.