The recent announcement of a generous $1 billion donation to the Albert Einstein College of Medicine in the Bronx has sent shockwaves through the medical community. This unprecedented gift will cover tuition costs for all future students at the prestigious institution, ensuring that financial barriers do not hinder aspiring doctors from pursuing their dreams.
This monumental donation is a testament to the value placed on education and healthcare by the philanthropic donor, whose generosity will have a lasting impact on countless lives. By removing the burden of tuition, students can focus on their studies and training without the added stress of debt looming over them.
New York University announced in 2018 it would offer full scholarships to all medical students. Kaiser Permanente Bernard J. Tyson School of Medicine, affiliated with the Kaiser Permanente health system, opened in 2020 with the promise of free tuition for its first five incoming classes.
The first-year class at Albert Einstein has 183 students — 59% of them are women and nearly half are from New York.
″This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it,” Dr. Yaron Tomer, dean at the college, said in a statement. “Additionally, it will free up and lift our students, enabling them to pursue projects and ideas that might otherwise be prohibitive.”
Few educational donations rival the magnitude of Dr. Ruth Gottesman’s. In 2018, former New York mayor Michael Bloomberg donated $1.8 billion to his alma mater, Johns Hopkins University. And New York hospitals have long drawn the philanthropy of billionaires, with individual donations sometimes amounting to more than $100 million. Home Depot co-founder Ken Langone has heavily invested in New York University’s medical centers. In 2018, in part due to Langone’s donations, NYU’s School of Medicine became the first medical school in the country to offer free tuition to accepted students.
An October survey from the Association of American Medical Colleges found that 70% of medical students who graduated in 2023 have taken on some level of education debt. The average graduate left medical school owing more than $200,000, according to the AAMC.
The donation is the largest made to a medical school, according to the college.
"This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it," Yaron Tomer, the Marilyn and Stanley Katz Dean at Albert Einstein College of Medicine said in a news release announcing the donation. "Additionally, it will free up and lift our students, enabling them to pursue projects and ideas that might otherwise be prohibitive.
Read more
Financier and philanthropist Jacob Rothschild died at 87 Bitcoin Funding Rates Jump to 100%
Sarah H
Also on site :
- OpenAI severs data ties with Scale AI following Meta deal
- Donkey Kong Direct Boosts Nintendo Stock
- CDC Data Chief Resigns Before Vaccine Meeting