NYU School of Medicine said this week that it would provide full-tuition scholarships to all current and future medical students regardless of need, Crains New York reports.
Medical school officials said the scholarships would open up the school to a wider pool of applicants and reduce the incentive for debt-laden students to enter higher-paying specialties, such as neurology, orthopedics and cardiology. With a lower debt burden, the school is hopeful more students will pursue lower-paying fields, such as primary care, pediatrics and OB/GYN.
“A population as diverse as ours is best served by doctors from all walks of life, we believe, and aspiring physicians and surgeons should not be prevented from pursuing a career in medicine because of the prospect of overwhelming financial debt,” Dr. Robert Grossman, the medical school’s dean and CEO of NYU Langone Health, said in a statement. The new policy was announced at a “white coat” ceremony welcoming new medical students.
The school has launched a $600 million campaign to fund an endowment that will cover the costs of the scholarships. So far NYU has raised $450 million.