NY University offers free tuition for all medical students

NY University offers free tuition for all medical students

This isn't the first time that a medical school has tried to help the physician shortage - but according to NYU it is the first time that a "Top 10" USA medical school has offered free tuition. Medical schools across the country have made efforts to alleviate the burden of medical school debt but NYU is the first major institution to eliminate the burden entirely for all its students.

"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", said NYU Langone Health's board chair Kenneth G. Langone. And some aspiring doctors may abandon the career path altogether, or not even consider medicine in the first place.

The current sticker price at NYU's school of medicine is $55,018 per year, and students in medical schools typically take four years of classes. But critics say that plan is riddled with loopholes, and a new report found that only 3 percent of public college students are taking advantage of the scholarship.

Langone, who founded Home Depot, and his wife Elaine Langone contributed $100 million to fund the tuition package.

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Now the onus is on NYU to ensure that money goes to a diverse group of students-an important consideration with the school's low admission rate. One thing is for certain: It just became even harder to get into NYU. Columbia University in New York City offered the most expensive medical education at $66,257 per year. As of the 2017-2018 school year, its students earn at least $60,000 per year for each year of medical school in return to committing to seven years of active duty in the armed forces after graduation.

This initiative comes at a time when higher education costs have never been higher, with many students struggling with crippling debt despite achieving a high paying career. According to the Association of American medical colleges, only in 2017 70% of graduates of medical faculty, owed banks approximately $191 thousand.

When graduating doctors are buried under student debt, they tent to school higher-paying specialties, NYU Medical School officials say, which takes talented doctors away from "less lucrative fields like primary care, pediatrics, and obstetrics and gynecology". "I think a lot of schools would love to be able to do this, but it's more hard for some schools". Case Western Reserve University's Cleveland Clinic Lerner College of Medicine has paid student's full tuition since 2008.

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