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New York University made a big announcement on Thursday, Aug. 16. NYU announced that all current and future medical students at the university will be awarded scholarships and receive free tuition in an effort to combat the rising costs of medical education.
The cost of the yearly tuition that the scholarships will cover is $55,018.
“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,” says Kenneth G. Langone, chair of the Board of Trustees of NYU Langone Health, in a statement from the university.
The ground-breaking decision makes NYU the first top 10 medical school to offer free tuition.
The announcement was made at the end of the school’s annual White Coat Ceremony where new students are presented with their lab coats to officially mark the beginning of their education and training in the medical field.
“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.
The scholarships will be awarded regardless of need or merit.
“We believe that with our tuition-free initiative, we have taken a necessary, rational step that addresses a critical need to train the most talented physicians, unencumbered by crushing debt,” says Dr. Grossman. “We hope that many other academic medical centers will soon choose to join us on this path.”
Kudos to you, NYU.
