They have raised $450 million of the total $600 million cost to fund this in perpetuity.
Current students will have refund of tuition paid for this year.
Pity for those who just graduated and have loads of debt. I wonder if more medical schools will follow. Surely NYU will have many more applications and the competition for entry will be even more fierce.
NYU’s median GPA is 3.97 and median MCAT is 521. Admission is already insanely competitive.
The intent of NYU’s free tuition is steer more students into primary care specialties. NYU already has a fast track 3 year medical school program for students pursuing primary care.
University of Houston’s new medical school has an anonymous donor who has agreed to pay the tuition for the entire inaugural class for all 4 years.
https://www.cnn.com/2018/07/19/health/free-tuition-university-of-houston-trnd/index.html
https://med.nyu.edu/education/md-degree/md-affordability-financial-aid/cost-attendance lists what the costs are, including the effect of the scholarship.
D was accepted to NYU medical but then it had the highest tuition costs of the medical schools that accepted her.
This Fall, you’ll see a lot of Premeds trying to get A’s in Organic.
^ how is that different from usual or related to NYU or Houston though?
I’m hoping some med schools will find ways to make the application process less expensive. Everything is already stacked against lower income and middle class kids in the process, if you add costs of simply applying you create an unnecessary barrier.
MCAT and prep, unpaid volunteering, travel to interviews…it runs into many thousands of $$.
This is so cool. Now they can really attract the very top slice of talent. Let’s hope they choose the students well.
"New York University will offer a scholarship that covers tuition to every new, current and future medical student, it said Thursday.
All students enrolled in the MD degree program are eligible, regardless of their financial need or academic performance. The scholarship covers the full cost of tuition, which this year amounts to $55,018." …
https://www.cnn.com/2018/08/16/health/nyu-free-tuition-medical-school/index.html
Not everyone thinks making med school free is a good idea…
A few people have suggested this is a rather cynical attempt by NYU to manipulate USNews rankings.
There is also no clear evidence that graduating from medical school debt-free will increase the number of young doctors going into primary care.
[quote]
But it is less clear how much of an impact that debt has on students’ choice of medical specialty. The AAMC’s data suggest debt does not play as big a role in specialty selection as some analysts claim.
If debt were a huge factor, one would expect that doctors who owed the most would choose the highest-paying specialties. However, that’s not the case.
“Debt doesn’t vary much across the specialties,” says Julie Fresne, AAMC’s director of student financial services and debt management.
[quote]
I do agree with the cynics but my agreement is based more on evidence.
https://med.nyu.edu/education/md-degree/md-admissions/match-day-results
28 people seem to be headed to primary care out of 148 (20 IM + 6 ped + 2 FP)
The 20 is not necessarily a real number since they can choose specializations after internal medicine.
However, I may not have my numbers correct since Baylor says 110 people are doing primary care which means they count a lot more areas than the above 3.
https://blogs.bcm.edu/2018/03/16/match-day-2018-by-the-numbers/
Free tuition does not suddenly increase this number. Ivies already claim their financial aid packages are to support people to be able graduate with a low debt and choose primary care. Then you look at Harvard and dont see a lot of support for this statement. They list 42 in IM but a large portion in it are transitional.