New York University said Thursday that it will cover tuition for all of its medical students — both current and future students — regardless of their ability to pay.

For the 2018-19 academic year, that coverage amounts to $55,018 for each student.

The announcement makes NYU the first top-tier institution known to have covered tuition for the entire student body at its medical school. Nationally, 83 percent of M.D. students have $100,000 or more of education debt.

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“It makes an enormous difference in our students lives,” said Dr. Robert Grossman, a dean at the School of Medicine and CEO of NYU Langone Health. “We think it will, at some level, relieve one source of stress in medical training.”

It took 11 years for NYU to raise enough funding to make the effort possible. To date, the school has raised over $450 million; Grossman and Dr. Rafael Rivera, associate dean for admissions and financial aid, said that the school should now be able to offer tuition-free education without an end in sight.

Ultimately, NYU hopes to have an endowment of $600 million to support the effort.

The school already allowed students the option to shave off their fourth year of training — typically spent doing additional specialty rotations and applying for residences — saving students a year’s tuition. For the last cohort, 20 percent of students seized this opportunity, said Grossman.

Sarah Keltz, a rising second-year student at the School of Medicine, said the announcement was “amazing news for the whole NYU community.”

She said the coverage will allow her to consider medical specialties based on where there is a need for care, instead of income potential. Keltz, who is interested in psychiatry, said she can now think about providing care in lower-resource settings.

“Hopefully it will increase access for students otherwise deterred by cost,” she added.

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  • Why are medical students more deserving than other students
    who are in training for a professional qualification?
    NYU, what is really going on here?

    • This isn’t NYU doing the funding it is DONORS doing the funding TO NYU so that forever the students in Medicine can go for free. Surely any group can muster up $500M and allow their group’s kids to go for free as well
      Point is there are all but NO other groups who are as in debt before earning a dime then medical students
      It takes 4 years of college then 4 more of medical school then an internship (usually one year) and then anywhere from 2 to in some cases 5 years of residency until you are granted a license to practice. Sure there is a trickle of income during the final residency stage but up till that it is loans and Ramen noodles
      MOST medical students today are $200K++ in debt and start to make a living at age 32 as opposed to 22 in most other areas of society.
      Then as far as incomes go they have all but been sliced by 40% since I graduated in the 1980’s.
      Back in the 80’s one would be offered easily $500K as starting as a surgeon. Today well-paid surgeons with decades of experience make $400K TOPS. Don’t bother showing me the isolated Beverley Hills Plastic surgeon the reality is we work 70 and 80 hour weeks for $400K while engineers for Apple or Google make more for 40 hour weeks plus free housing allowances and limo service to and from work. Add to it they are only making cell phones we save lives. I can do with them can the world do without us?
      Dr. Dave

  • $600 Million Endowment invested at 1% generates $60 million EVERY YEAR! 100 students a year x $55k tuition = BINGO!

    Imagine how much MONEY the government WASTES every year, bleeding America dry. Now the Koch’s will say this is “socialism”. etc etc. I say the Koch’s can MOVE OUT.

    • NOT socialism this was done thru PRIVATE investors donating to NYU. Socialism would be if we raised taxes and required everyone to participate in donating to allow students to go for free.
      Be clear the outcome is similar students go free the difference is socialism is when there is a forced asset re-allocation taking from one group and giving to another without the wealthier being in agreement
      It is one thing to raise taxes for a fire brigade or new street lights but the expense needs to be in everyone’s use and interest
      Not everyone benefits from NYU students going for free not even close
      Even if medical care in the US was free because these students worked for 20 cents on the current dollar the point is that many won’t use the services and so refuse to participate in funding
      Socialism forces that issue and has failed in EVERY nation that has tried it (ask Cuba and Venezuela)
      Dr. Dave

  • —— the int’l brotherhood of electrical workers doesn’t charge its apprentices . why should the doctors’ union charge THEIR apprentices ? . . .

  • We just had an article the other day about how pharma is paying crazy money for people with car-t and gene therapy manufacturing know-how, of which there are about 10 in the world…yet you have MD specialties making way more. Kids starting at $300k-$400k, right out of residency. I think we all often forget just how much MDs make and how [relatively] low most pharma salaries are.

    With this new NYU policy, will we stop hearing the age old justification “I have to make a lot of money because I have student loans?”

    It would have been more impactful to use the money to train more residents. However, our medical community is $ first and would rather limit supply.

    • So basically anyone who makes more than basic labor income is an evil soul because they are somehow not deserving????
      Pharma can pay whatever they opt to pay. I know a Ph.D. at Novartis who earns leaps and bounds above any MD I know and trust me I am friends with lots.
      Income is directly related to value to the society and time and money put in to achieve the end goal. Is Mark Zuckerburg worth his billions? Does he even have a degree? I say HELL yes he is worth it. He created the most successful software platform in Internet History (although I am not it).
      Is Bill Gates or Steve Jobs worth their salaries? Again time spent in and value to society dictates yes they are
      The electrician and or welder grass cutter is not worth $400K simply because the road to getting there is short the cost of getting it is minimal and the value to society is not so significant
      Lose the anger and jealousy of what others earn and instead look at the value they bring and the efforts they put in
      In 1700’s people rarely lived to 50 now people rarely die before 70 it wasn’t as a result of genes it is caused by medical advancement
      Dr. Dave

  • Please be aware that a few years ago, the Cleveland Clinic Lerner Medical School started offering tuition-free for all its students. The Cleveland Clinic, under the leadership of Dr. “Toby” Delos Cosgrove, initiated this after vigorous funding, to allow and encourage these students to chose a medical career in research (less financially-rewarding) over a clinical practice. Thank you.

  • Check out DOD for their free tuition / benefits for desperately need Psychiatric Dr. training. I believe if qualifications fit all training and education for Psychiatric Dr. are fast tracked and fully covered!

  • Interesting if one institution can do it then ALL can and NO need to have taxes involved or any Gov activity.
    %450M is nothing for the likes of NYU with its Langone Medical Facility and VERY deep-pocketed New Yorkers routinely donating for charity purposes. About time the universities turned their donation departments away from brick and mortar buildings and nonsense to actually driving more graduates into the industry
    Now I only HOPE and pray they back it up with enough residencies so these new docs are able to actually practice rather than stuck in the bottleneck and being forced to do alternative career paths without matching for their residency slots
    Dr. Dave (Head and neck surgeon)

  • This is the stupidest policy I’ve ever seen. You think students will pick specialties based on need? They will take the free education and pick the specialties that make them the most money in the future. Idiotic policy.

    • Except that has never been the case and residencies are VERY difficult to get into and in fact, there are not enough slots to handle the entire graduating classes of any one year let alone the backlog of previous years failed-to-match
      Sure many want to be ENT’s (the highest paid specialty) but since there are SO few slots it self-regulates the pool
      The elimination of debts is a GREAT place to start to get better quality docs since those who can’t afford tuition can now apply without concern and when they do graduate will not have to work based on paying off the debt they can focus on actual patient needs
      Dr Dave (Head and neck surgery)

  • “students deterred by cost?” Really Sarah?

    You have a cohort of students whose virtually guaranteed earnings over the 20 years of their professional lives will be 20x the debt required to go through training…not to mention the interest rate on the borrowed capital is the most generous rate the bank gives, to anyone.

    $450 million is a lot of money to waste on imaginary problems.

    • This is the stupidest policy I’ve ever seen. You think students will pick specialties based on need? They will take the free education and pick the specialties that make them the most money in the future. Idiotic policy.

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