New York Medical School Eliminates Tuition with $1 Billion Gift
The New York-based Albert Einstein College of Medicine will no longer charge tuition fees due to a record-breaking $1 billion donation, making it one of the most significant contributions to an educational institution in the U.S. The once $60,000 yearly cost for students will now be waived.
Situated in the Bronx, the poorest of New York City's boroughs, the college and its associated Montefiore Medical Center aim to improve the region's poor health outcomes. The donation announcement prompted joyous celebration among students on campus.
The gift originates from Ruth L. Gottesman, Ed.D., the Chair of the college's Board of Trustees and a member of the Montefiore Health System board. With this move, Einstein College becomes the country's biggest medical school to abolish tuition.
The college's statement confirms that from August onwards, all new students will attend for free and current fourth-year students will get their spring 2024 semester tuition refunded. At 93, Gottesman's contribution continues her and her late husband's, a noted former financier, longstanding support for the institution.