Every student at the brand new York University School of Medicine is actually getting a full ride.
The university announced Thursday which which will cover annual tuition costs of $55,018 for current as well as also also future students, regardless of need or merit.
NYU’s announcement comes amid ballooning costs for medical education.
For the class of 2017, about 72 percent of students graduated having a median of $180,000 in medical education debt, according to the Association of American Medical Colleges.
For some, those high costs are an insurmountable financial barrier to entering the field. Those who do graduate, saddled with thousands in debt, are often drawn to more lucrative specialties, creating a shortage of professionals in lower-paying fields like primary care as well as also also pediatrics.
Robert Grossman, dean of the NYU School of Medicine, said the decision is actually an attempt to tackle debt burden on aspiring physicians.
“A population as diverse as ours is actually best served by doctors via all walks of life, we believe, as well as also also aspiring physicians as well as also also surgeons should not be prevented via pursuing a career in medicine because of the prospect of overwhelming financial debt,” he said in a statement.
NYU said which initiative had numerous supporters including Home Depot co-founder Ken Langone, billionaire investor Stanley Druckenmiller as well as also also BlackRock Chairman as well as also also CEO Larry Fink. The NYU Medical Center is actually named after Langone as well as also also his wife, Elaine.
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