Photo courtesy of NYU Langone Health Facebook page
If your little one fancies herself the next Doc McStuffins, or your teen has his eye on the medical field, NYU School of Medicine just got a whole lot cheaper. The school just announced that it’ll provide full-tuition scholarships to all current and future students in the MD program. There’s no requirement in terms of merit or financial need; all a student has to do to secure their $55K+ tuition is maintain satisfactory grades in accordance with the school’s progress policy.
While tuition is completely covered, students will still have plenty to cover on their own: books and supplies, room and board, mandatory health insurance, miscellaneous fees and loan fees amount to north of $27K, or $30K for those on the three-year accelerated track.
NYU School of Medicine is the only top-10 ranked med school in the US to offer full tuition. The change was made in order to curb student debt. The school states that many medical students choose lucrative specialties instead of important fields like primary care and gynecology (which make less money) due to hefty loan payments, while some undergrad and high school talent stay away from medicine altogether because of the notorious price tag on many years of schooling.
75 percent of all US doctors graduated with debt last year, while the median current debt of a graduating med student is $202,000 and $300K+ for 21 percent of docs graduating from a private school, according to the Association of American Medical Colleges. With numbers like that, NYU is definitely a good school to have on her application list in advance, though we imagine she'll have a lot more competition when she applies.