NYU Medical School Says All Students to Attend Tuition
Aug 19 2018
"If you're faced with debt that you're likely to have into your 50s, it's got to have an influence on what you choose to do", Lee Goldman, dean of the Columbia University medical school tells the paper.
The unexpected decision-announced during the annual "White Coat Ceremony" on Thursday-will mean free tuition for all students, regardless of merit or financial need.
The New York University School of Medicine will provide free tuition for all present and future students, the university announced.
What will this mean for NYU grads? Moreover, the financial barriers discourage many promising high school and college students from considering a career in medicine altogether due to fears about the costs associated with medical school. But critics say that plan is riddled with loopholes, and a new report found that only 3 percent of public college students are taking advantage of the scholarship. Faced with the longstanding threat, AAMC began pushing for higher medical school enrollment in the early 2000s. The school will also refund students who have already made out-of-pocket tuition payments for the current year, and it will return loans students may have already taken out.
People have already applauded the NYU Medical School scholarship online.
NYU Langone says 75 percent of doctors graduate in debt at an average of $200,000. Medical students from NYU typically graduate with an average debt of $184,000, with the median debt for medical students across the nation totaling $192,000. The medical college association pegs the average debt at almost twice that, or $180,000.
How will this affect NYU's medical school?
The result is a shortage of the general care practitioners who are most needed, especially in rural parts of the country and in the so-called Rust Belt across the Midwest, according to several studies.
NYU said on Thursday that it hopes other institutions will follow in its path, as it pursues "a full retrofitting of the pipeline that trains and finances" future doctors.
"It allows them to attract students from all across the spectrum", Fresne said. The university's school of medicine says it will make tuition free for all students.
"There is a percentage of students who do rank debt in looking at their specialty choice", Fresne said. In addition to the expansion of scholarship aid, we know we must devise long-term strategies to alter the trajectory of college costs at NYU. "Medical school is still a great investment", she said.
All students enrolled in the MD degree program are eligible, regardless of their financial need or academic performance.
In the F. Edward Hébert School of Medicine, a federally funded medical school within the the Uniformed Services University of the Health Sciences in Bethesda, Maryland, students are actually paid a salary during their time in medical school. That's a major deterrent for qualified premedical students considering a medical degree. Tuition alone for four years of medical school has increased up to fourfold in the past three decades.
"It will be interesting to watch how other schools respond to NYU's decision", Fresne said.