New York Medical School eliminates tuition fees after $1 billion donation

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New York Medical School eliminates tuition fees after $1 billion donation

All current fourth-year students will be reimbursed for their spring 2024 semester fees.

New York:

A New York medical school will eliminate tuition fees after receiving a $1 billion “transformational gift” from a wealthy donor, the parent organization of the Albert Einstein College of Medicine said in a statement.

The charitable donation is one of the largest donations ever publicly received by an educational institution in the United States and will offset approximately $60,000 in non-discounted annual tuition fees.

The school and its affiliated hospital, Montefiore Medical Center, are located in the Bronx – the poorest neighborhood in New York City, where health outcomes are among the worst in the state, according to official data.

A clip of the announcement being made on campus, posted on social media, shows students reacting enthusiastically, cheering, shouting and clapping.

“The Albert Einstein College of Medicine has received a transformational gift from Ruth L. Gottesman, Ed.D., chair of the Einstein Board of Trustees and Montefiore Health System board member,” the organization said in a statement late Monday.

“This historic gift – the largest ever given to any medical school in the country – will ensure that no Einstein student will ever have to pay tuition again.”

The statement said all current fourth-year students will be reimbursed for their spring 2024 semester fees and all future students will receive free tuition starting in August.

Gottesman, 93, is the wife of David Gottesman, a former clinical professor of pediatrics at Einstein and former Wall Street financier. They were important donors to the school during his lifetime.

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