This is why medical school is free at NYU

Be realistic when you calculate how much you’ll need to spend and your budget will be easier to keep

Be realistic when you calculate how much you’ll need to spend and your budget will be easier to keep

Thursday's announcement came as a surprise ending to the school's annual white coat ceremony, which marks the start of first-year students' medical careers.

Speaking to CNN, Rafael Rivera, NYU's associate dean for admissions and financial aid said: "The debt can scare people away". The average medical student at a public university graduated with $181,179 of debt.

The NYU School of Medicine said Thursday current and future medical students will be awarded full tuition scholarships regardless of need or merit, reports CBS2's Ali Bauman. And some aspiring doctors may abandon the career path altogether, or not even consider medicine in the first place.

"These next couple of years were going to look very hard for my parents", said incoming med student Joshua Jiange.

Medical schools across the US are looking to attract new students, but raising tuition and loan balances are pushing would-be physicians into higher-paying professions.

NYU has raised $450 million of the $600 million necessary to finance the tuition plan in perpetuity. One thing is for certain: It just became even harder to get into NYU.

Donations made to the medical school by more than 2,000 trustees, alumni, and others have provided the funds for the tuition scholarships, according to WCBS. That's a major deterrent for qualified premedical students considering a medical degree. According to the Association of American Medical Colleges, the median debt for medical students upon graduating in 2017 was $192,000. Recently they established the scholarship, which will cover the cost of University education, component, neither more nor less, $ 55 018. Stanford University offers full-tuition scholarships to all undergraduates whose family income is under $125,000 a year, and adds free room and board to students whose families earn less than $65,000. However, she said some students feel pressure to to only pursue high-paying medical jobs due to their debt. By liberating both prospective and present medical students from the shackles of educational debt, a medical school can alter the topography of American health care by helping increase diversity in the provider population, improve access to care by minority patients, resolve the deficit of primary care physicians, and empower the battle against burnout. "I think a lot of schools would love to be able to do this, but it's more hard for some schools".

Cleveland Clinic Lerner College of Medicine of Case Western Reserve for example has paid full tuition and fees since 2008, but the program only has 32 students.

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