The New York University (NYU) School of Medicine announced it will cover the tuition of all of its current and future students on Thursday during the school’s annual White Coat Ceremony.
The $52,000/year tuition has discouraged many aspiring medical students from entering the school. But effective immediately, that fear will be erased for all accepted students regardless of need or merit.
“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,” said Dr. Robert I. Grossman, Dean of NYU School of Medicine.
“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,” Kenneth G. Langone, chair of the Board of Trustees of NYU Langone Health, said.
The school’s goal is to not only diversify its class in terms of socioeconomic status, but also in terms of career aspirations. In a press release, the school said the high cost of tuition has led graduates to bypass entering primary care, pediatrics, or research, and instead choosing the highest-paying fields to pay back the hefty loans.
“A population as diverse as ours is best served by doctors from all walks of life, we believe,” Grossman said, “And aspiring physicians and surgeons should not be prevented from pursuing a career in medicine because of the prospect of overwhelming financial debt.”
According to NYU, it is now the only top-ranked national medical school to offer full-tuition scholarships to all pupils. While students will still have to pay for room and board and other fees, which The New York Times reports is about $27,000 a year, the move to ease the weight on most of the financial burden students struggle with is groundbreaking.