This undated photo provided by the Albert Einstein College of Medicine shows the college in New York. The medical school will be tuition-free for all

A New York City medical school goes tuition-free thanks to a $1 billion gift

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2024-02-27 17:30:06

This undated photo provided by the Albert Einstein College of Medicine shows the college in New York. The medical school will be tuition-free for all students from now on thanks to a $1 billion donation from a former professor, the widow of a Wall Street investor. Ruth Gottesman announced the gift and its purpose to students and faculty at Albert Einstein College of Medicine on Monday, Feb. 26, 2024, bringing some in the audience to tears and others to their feet, cheering. (Jason Torres/Albert Einstein College of Medicine via AP)

NEW YORK (AP) — A New York City medical school will be tuition-free for all students from now on thanks to a $1 billion donation from a former professor, the widow of a Wall Street investor.

Ruth Gottesman announced the gift and its purpose to students and faculty at Albert Einstein College of Medicine Monday, bringing some in the audience to tears and others to their feet, cheering. Gottesman, 93, has been affiliated with the college for 55 years and is the chairperson of its board of trustees.

The gift is intended to attract a diverse pool of applicants who otherwise might not have the means to attend. It will also let students graduate without debt that can take decades to repay, college administrators said. Tuition at Einstein is $59,458 per year. The average medical school debt in the U.S. is $202,453, excluding undergraduate debt, according to the Education Data Initiative.