NYU School Of Medicine To Pay Tuition For All Students

New York University hopes to alleviate the rising costs of medical education and attract a more diverse class by paying for

NYU New York University hopes to alleviate the rising costs of medical education and attract a more diverse class by paying for its students tuitions

"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 NYU School of Medicine is the first top 10-ranked medical school to make tuition free, the school said. Low-income and minority students aspiring to become healers may forgo those dreams out of financial apprehension; those who do attend may feel pressure to pursue niche medical specialties that pay higher salaries so they can recoup their tuition costs rather than pursue broader primary care careers.

Students will still have to cover room and board, as well as other living expenses.

The school says it wanted to reduce the amount of debt students are saddled with after medical school and attract a more diverse class of students.

NYU School of Medicine said today it would provide full-tuition scholarships to all current and future medical students regardless of need.

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.

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Addressing the affordability issue could help alleviate physician shortages, said Rafael Rivera, associate dean for admissions and financial aid. So far, NYU has raised $450 million of $600 million it says it will need to fund the program.

On Thursday, NYU made a stunning announcement: All of the renowned institution's medical students will be awarded full tuition scholarships.

The Wall Street Journal reported today the move is a first among major US medical schools. Those range from around $27,000 to $29,000 per year, according to the medical school.

More than 86 percent of medical school graduates carry educational debt, and 41 percent of those students reported their debt exceeded $150,000, according to the American Medical Student Association. Nine students have their tuition covered through the school's M.D./Ph.D program.

The free-tuition initiative began more than a decade ago when NYU created an endowment for that objective.

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