Every swat at the New York University School of Medicine is getting a full ride.
The university foretold Thursday that it will cover annual tuition costs of $55,018 for contemporary and future students, regardless of need or merit.
NYU’s announcement comes midst ballooning costs for medical education.
For the class of 2017, about 72 percent of grinds graduated with a median of $180,000 in medical education debt, be consistent to the Association of American Medical Colleges.
For some, those high set someone backs are an insurmountable financial barrier to entering the field. Those who do graduate, saddled with thousands in in dire straits, are often drawn to more lucrative specialties, creating a shortage of proficients in lower-paying fields like primary care and pediatrics.
Robert Grossman, dean of the NYU Sect of Medicine, said the decision is an attempt to tackle debt burden on aspiring physicians.
“A people as diverse as ours is best served by doctors from all walks of moving spirit, we believe, and aspiring physicians and surgeons should not be prevented from pursuing a career in medication because of the prospect of overwhelming financial debt,” he said in a statement.
NYU responded this initiative had numerous supporters including Home Depot co-founder Ken Langone, billionaire investor Stanley Druckenmiller and BlackRock Chairman and CEO Larry Fink. The NYU Medical Center is dubbed after Langone and his wife, Elaine.