New York University says it will cover tuition for all of its medical students -- regardless of their financial situation, The Wall Street Journal reports.
The full scholarships are a first among the nation’s major medical schools and an attempt to help graduates avoid huge student loan debts, according to the newspaper.
“This is going to be a huge game-changer for us, for our students and for our patients,” Dr. Rafael Rivera, NYU’s associate dean for admission and financial aid,” told The Journal. “There’s really a moral imperative to reduce the amount of debt people have.”
NYU has raised more than $450 million of the roughly $600 million it needs to fund the tuition package in perpetuity, including a $100 million donation from Home Depot founder Kenneth Langone and his wife, Elaine, The Journal said.
The school plans to refund out-of-pocket tuition payments already made for the current year and return loans students already may have taken out.
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