In response to the skyrocketing costs of med school, New York University announced they will offer full-tuition scholarships to all students of the University’s MD degree program. According to NYU’s August 16th announcement, the scholarships will be available to both current and future medical students, regardless of need or merit. NYU is the only top-10 ranked medical school to offer such a life-changing scholarship.
“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,” NYU Langone Health Board of Trustees chair, Kenneth G. Langone, stated in the announcement.
The scholarships will cover the entire yearly tuition price tag (excluding room and board), which currently stands at $55,018.
NYU hopes this new endeavor will help slow the reshaping of the medical field. As it stands, med school graduates are taking higher-paying positions in an effort to pay off exorbitant student loans. The University notes that “less lucrative fields like primary care, pediatrics, and obstetrics and gynecology” are suffering because of student debt.
On top of that, many who wish to enter the medical field opt out solely because of the high costs of a medical education. NYU wants to change this narrative once and for all.
Rafael Rivera, MD, MBA, associate dean for admissions and financial aid, added that the free tuition scholarships address “both physician shortages and diversity.”
This initiative will help hundreds of aspiring medical professionals receive the education they need without fear of debt. It will also inspire change in the medical profession across the country. Having more doctors in every medical field means better healthcare for American citizens.
NYU is doing big things in the world of education and healthcare. We hope other universities are taking note.