NY University offers free tuition for all medical students

NY University offers free tuition for all medical students

NY University offers free tuition for all medical students

In the USA, only 3 in 10 students choose to practice in the primary care specialties of internal medicine, family medicine, and pediatrics, which generally have lower salaries than specialties like cardiology or anesthesiology. The new policy was announced at a "white coat" ceremony welcoming new medical students.

A study produced by the Association of American Medical Colleges estimated that in 2017 75% of medical students graduated in debt.

The school says it wanted to reduce the amount of debt students are saddled with after medical school and attract a more diverse class of students. 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". Tuition had been set at $55,018 for the coming year.

Addressing the affordability issue could help alleviate physician shortages, said Rafael Rivera, associate dean for admissions and financial aid. The school will refund out-of-pocket tuition payments already made for the current year, and return loans students may have taken out.

The move follows NYU's decision in 2013 to offer an accelerated three-year curriculum for its MD degree program, which also helps in cutting tuition costs.

"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 Kenneth Langone, chair of the Board of Trustees of NYU Langone Health.

NYU said it was the "only top 10-ranked" medical school in the U.S.to offer such a generous package.

The skyrocketing cost of tuition can lead to hundreds of thousand of dollars in debt, which can be out of line with potential earnings, has been a source of much debate across the nation. Yet by 2030, as the prevalence of chronic disease continues to skyrocket and the population of Americans over age 65 years increases by 50 percent, the primary care physician shortage may end up larger than that of every other specialty combined. NYU now has 442 medical students and each incoming class has about 100 students.

"The debt can scare people away".

Cleveland Clinic Lerner College of Medicine of Case Western Reserve for example has paid full tuition and fees since 2008, but the program only has 32 students.

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