United States: A medical school situated in New York’s worst-performing borough will be allowed now to fund health-related studies tuition fees for all of its students, as a former professor is allowed to donate a $1bn donation to it.
More about the News
In New York City, Albert Einstein College of Medicine has announced the donation gift granted by Dr Ruth Gottesman on Monday.
Dr Gottesman joined the same medical college in 1968 and is now the chair of the Einstein Board of Trustees, working on transforming the school.
As per the statement from the college – “This historic gift – the largest made to any medical school in the country – will ensure that no student at Einstein will have to pay tuition again,” Aljazeera reported.
How is Gottesman donating billions to the college?
The News of donation brought cheering News for the students as well as for the school staff, where Gottesman’s donation is going to be fulfilled from the fortune left by her late husband, David “Sandy” Gottesman. He was a renowned financier on Wall Street and an early investor in Berkshire Hathaway, whose demise happened in September 2022.
She stated while mentioning that more than 100 students enter the college every year, “I am very thankful to my late husband, Sandy, for leaving these funds in my care, and I feel blessed to be given the great privilege of making this gift to such a worthy cause,” as Aljazeera reports stated.
Positive effects on students after the News
To all the current students studying at the college, the school is reimbursing the tuition fees from their latest semester. Moreover, from now on, all students will get free tuition.
The Tuition fee at the school costs students about $60,000 a year. In other words, many students until now have finished their studies in debt greater than $200,000.
As Aljazeera reported, the school said in a statement, “This transformational gift is intended to attract a talented and diverse pool of individuals who may not otherwise have the means to pursue a medical education. It will enable generations of healthcare leaders who will advance the boundaries of research and care, free from the burden of crushing loan indebtedness.”
The school, which is located in the Bronx, an area ranking last in New York State on the basis of health accounts, is attended by some 1,100 students, according to the University of Wisconsin Population Health Institute.