NYU Medical School just made an announcement that is receiving a sizable amount of attention and for very good reason. When they recently held a ceremony to welcome all of their new students, they were given some of the best news possible. Their tuition fees were being waived and each of them would be given a full ride scholarship. This allows them to graduate debt free.
The announcement was a culmination of sorts. The school had set the goal of providing students with a full ride a decade ago and now it is finally coming to fruition. So far, the university has been able to raise $450 million and their eventual goal is to hit $600 million. This will allow them to offer students a tuition free learning experience in perpetuity.
Student debt is a growing national issue and it is not showing any signs of slowing down. Can you believe that our nation’s past students are currently over $1 trillion in debt to their lenders? It should be obvious to anyone that the system is broken. 75 percent of all doctors who graduated within the past year are going to be saddled with some form of debt.
These debts steer some of the most powerful minds of our society to fields that they consider to be more lucrative. This is why NYU has decided to step up to the plate and assist these doctors. As one of the top ten medical schools in the United States, they felt a certain obligation to lend a helping hand. The yearly tuition fee used to be roughly $55,000.
Now, students will have the chance to enjoy a learning environment where they are not being subjected to the worries and fears that take place in these scenarios. They no longer have to be worried about the $200,000 median debt that the average doctor incurs while they are completing their studies. This is the type of bold decision that more schools need to be willing to make.
We are hoping that this decision kick starts a new trend of students being offered a free education. Other universities that are looking to make changes like these would be doing their part to increase the level of healthcare that is being provided in the United States. Costs will also improve as well. Let’s all do our part and share this story to spread further awareness about this landmark decision.