Published: Fri, August 17, 2018
Health Care | By Oscar Goodwin

NYU School of Medicine to give all students a full ride

NYU School of Medicine to give all students a full ride

All medical students at New York University will now be able to attend tuition-free - a major first for a highly ranked medical school as it aims to eliminate the burden of crippling student debt for its students. At the same time, all current NYU medical students received emails saying the school is offering them full-ride scholarships too.

The Wall Street Journal reported Thursday the move is a first among major US medical schools.

"We really believe that medical student debt is among the biggest issues our country faces in terms of providing excellent physicians to serve our health care needs", Grossman said.

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"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", Robert I. Grossman, dean of the medical school and chief executive officer of N.Y.U.

Medical school officials said the scholarships would open up the school to a wider pool of applicants and reduce the incentive for debt-laden students to enter higher-paying specialties, such as neurology, orthopedics and cardiology. It has raised more than $450 million. The University of California-Los Angeles's David Geffen School of Medicine has a similar fund to cover costs for students based on merit. Home Depot co-founder Kenneth Langone, whose name adorns the health system affiliated with the medical school, contributed $100 million.

The stunning announcement was made Thursday morning at the end of the annual "White Coat Ceremony", where new medical students are given white lab coats to mark the start of their M.D. degree program. The scholarship covers the full cost of tuition, which this year amounts to $55,018.

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NYU School of Medicine also offers an accelerated three-year M.D. program, which is also covered by the full-tuition scholarship program.

All students enrolled in the MD degree program are eligible, regardless of their financial need or academic performance.

More than half of the medical school's most recent graduating class had student loans, averaging out to $171,908 for medical school, the Journal reported.

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