The New York University School of Medicine announced on Thursday that it would cover the tuition of all its students, regardless of merit or need, citing concerns about the “overwhelming financial debt” facing graduates.
N.Y.U.’s initiative comes at a time when affordability has become an increasingly urgent issue in higher education, with some graduates struggling with thousands of dollars in debt.
To date, much of the effort has centered on helping undergraduates cover the balance of their tuition bills, including at community colleges in Tennessee, and two- and four-year schools in New York under the new Excelsior Scholarship.
The plan, effective immediately, covers all current and future students. Annual tuition is roughly $55,000. There are 93 first-year students, and another 350 students who have up to three years left before obtaining their degrees. (A small group of new and current students who are enrolled in joint M.D./Ph.D. programs already have their tuitions paid for, thanks to the National Institutes of Health.
[more at nytimes.com]