NYU To Cover Tuition For All Medical Students

PIXABAY           In a move that is a first among major U.S. medical schools New York University is offering free tuition for all of its medical students

New York University medical students received life-changing news on Thursday - the School of Medicine will cover full tuition going forward for all current and future students, regardless of need or merit.

However, students will still have to pay for annual room and board, and other living expenses. Tuition had been set at $55,018 for the coming year.

Graduates move towards higher-paying areas of medicine over paediatrics, primary care or gynaecology due to their "staggering student loans".

NYU has raised more than $450 million of the roughly $600 million it needs to fund the tuition package in perpetuity, including a $100 million donation from Home Depot founder Kenneth Langone and his wife, Elaine, The Journal said.

"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", says Robert I. Grossman, MD, the Saul J. Farber Dean of NYU School of Medicine and CEO of NYU Langone Health.

By taking tuition costs off the table, NYU Associate Dean of Admissions Rafael Rivera said he hopes to level the playing field for students from lower socioeconomic backgrounds.

Few medical schools have managed to cover tuition for a wide swath of students.

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. In the most recent application cycle, only 18 percent of matriculating medical students were African-American, Hispanic, American Indian, or native Alaskans, even though they make up almost 33 percent of the USA population.

On Thursday, NYU made a stunning announcement: All of the renowned institution's medical students will be awarded full tuition scholarships. Students nontuition costs in that program would be about $27,000 to $31,000.

Seventy-two percent of graduates from medical school in 2017 graduated with a median of $180,000 in debt, according to data from the Association of American Medical Colleges cited by the university. 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. That is partly propelled by the fact that almost half of third- and fourth-year students say that their choice in medical specialty is influenced by projected income-or by debt burden.

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