NYU Medical School Students Will Get Free Tuition

NYU Medical School Students Will Get Free Tuition

NYU Medical School Students Will Get Free Tuition

New York University will offer a scholarship that covers tuition to every new, current and future medical student, it said Thursday.

The newspaper said most medical students will still need to pay for their room, board and living expenses, which it estimated at about $29,000 year.

With a lower debt burden, the school is hopeful more students will pursue lower-paying fields, such as primary care, pediatrics and OB/GYN.

"If you're faced with debt that you're likely to have into your 50s, it's got to have an influence on what you choose to do", Lee Goldman, dean of the Columbia University medical school tells the paper.

According to The Wall Street Journal, the institution has so far raised over $450 million of the almost $600 million it needs to fully cover the costs of its medical students' tuition. Nine students already have had their tuition completely covered under their M.D./PhD programs.

More news: Dow down 200, emerging markets crashing on US-Turkey geopolitical concerns

"That's too late if we wish to expand the pipeline to bring forth the broadest, most talented group of students, and to give them the financial freedom to choose medicine over other careers", he said in a statement. 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.

Addressing the affordability issue could help alleviate physician shortages, said Rafael Rivera, associate dean for admissions and financial aid.

"We thought it was a moral imperative because it's very hard for medical students to incur the debt burden of medical school, as well as the additional time burden of training", Grossman told ABC News on Thursday. At the same time, all current NYU medical students received emails saying the school is offering them full-tuition scholarships. Medical school tuition at NYU this year is $55,018. Students nontuition costs in that program would be about $27,000 to $31,000. In 2017, 119 students matriculated from the medical school, which receives well over 7,000 applications a year.

Those 93 students will benefit from the scholarship, along with 350 others enrolled further along in the program. The median cost of tuition at all private medical schools, like N.Y.U., in the 2017 to 2018 school year was $59,605 - up 4% from the previous year, according to the Association of American Medical Colleges.

Related news