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New York University offers free tuition to all medical students

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Be realistic when you calculate how much you’ll need to spend and your budget will be easier to keep

The NYU School of Medicine is offering full-tuition scholarships to all students, regardless of their financial situation.

N.Y.U.'s School of Medicine announced Thursday it will cover tuition costs for all of its students - regardless of their financial standings or backgrounds.

Graduates move towards higher-paying areas of medicine over paediatrics, primary care or gynaecology due to their "staggering student loans".

"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.

"We thought it was a moral imperative because it's very hard for medical students to incur the debt burden of medical school, as well as the additional time burden of training", Grossman told ABC News on Thursday. It has raised about $450 million through endowments so far.

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Few medical schools have managed to cover tuition for a wide swath of students.

The associate dean for admissions and financial aid, Dr. Rafael Rivera, says there's a "moral imperative" to reduce debt. In the most recent application cycle, only 18 percent of matriculating medical students were African-American, Hispanic, American Indian, or native Alaskans, even though they make up almost 33 percent of the USA population. Medical schools nationwide have been conducting aggressive fundraising campaigns to compete for top prospects, alleviate the debt burden and give graduates more career choices. The debt is even higher for students who attend private schools. Those range from around $27,000 to $29,000 per year, according to the medical school.

Incoming medical students and those already enrolled will receive an annual scholarship of $55,018 to cover tuition starting this upcoming academic year, NYU said. Students nontuition costs in that program would be about $27,000 to $31,000. They owed an average amount of $191,000, according to a survey by the Association of American Medical Colleges.

The crushing weight of debt that medical education places on students-debt that averaged some $191,000 across all schools and more than $206,000 for private schools in 2017, according to the Association of American Medical Colleges (AAMC)-has consequences for prospective students and the future contours of USA medicine alike.

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