New York University School of Medicine has announced that full-tuition scholarships will be granted to all current and future students in its MD degree program, regardless of merit or financial need.
Yes, you read that right — free tuition for all NYU medical students. Well, as long as each student maintains satisfactory academic progress in accordance with the NYU School of Medicine’s Satisfactory Academic Progress Policy.
Reportedly, this decision came about following the administration’s concerns regarding “overwhelming financial debt.” According to a survey by the Association of American Medical Colleges, about 75% of medical students across the country graduated with debt in 2017 and owed an average amount of $191,000.
“The debt can scare people away,” says Rafael Rivera, associate dean for admissions and financial aid. “One of those individuals could be the one to find a cure for cancer. For us, it’s important to have the best applicant pool possible and society deserves nothing less.”
Students will still have to cover room and board, as well as other living expenses. NYU students can choose between the traditional four-year MD program or an accelerated three-year degree.