New York University offers free tuition for all medical students

New York University offers free tuition for all medical students

"Our last thing was to tell the students and their parents that, hey, tuition is going to be on us", Dr. Rafael Rivera, associate dean for admission and financial aid, told ABC News on Thursday.

Nationally, 72 percent of graduates from the class of 2018 had debt from medical school, with a median of $195,000 in loans, according to student surveys by the Association of American Medical Colleges.

Dr Robert Grossman said that "aspiring physicians and surgeons should not be prevented from pursuing a career in medicine because of the prospect of overwhelming financial debt".

But the NYU program to cover 100% of tuition for all medical students is "a first among the nation's major medical schools", per the WSJ. The school will provide full-tuition scholarships for 92 first-year students-another 10 are already covered through M.D./PhD programs-as well as 350 students already partway through the M.D. -only degree program.

The crushing weight of debt that medical education places on students-debt that averaged some $191,000 across all schools and more than $206,000 for private schools in 2017, according to the Association of American Medical Colleges (AAMC)-has consequences for prospective students and the future contours of US medicine alike.

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In its statement, NYU also pointed out that high student debt was putting graduates off pursuing less lucrative specialisations including paediatrics and obstetrics and gynaecology.

"There's really a moral imperative to reduce the amount of debt people have", Dr. Rivera said of the effort. So far, the university has raised more than $450 million of the roughly $600 million it estimates it will need to fund full-tuition scholarships for all medical students "in perpetuity".

Most medical students will still need to pay about $29,000 for annual room and board and other living expenses. NYU students can choose between the traditional four-year MD program or an accelerated three-year degree. The plan applies to all 442 of its current medical students, but a number of them in the school's M.D.

For its most recent application cycle, the school received more than 6,000 applications for 102 spots, according to Grossman.

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