The New York University School of Medicine has become the first top-10 ranked medical school to go tuition-free. So if you happen to be one of the 442 currently enrolled students, well, dinner’s on you (or your parents) tonight because you just got quite the present. Think about how cool this is for NYU medical students. They thought they’d have to pay $55,018 in tuition this year but thanks to the generosity of The Home Depot co-founder Ken Langone and some other folks, they can hold onto those dollars (and the dollars for next year’s tuition and the two years after that for first-year med students) — and still receive one of the finest medical educations in the world. And for just how long will NYU be able to offer free tuition to its medical students? Well, it looks like it’s headed towards…forever.
NYU Goes Tuition-Free For Medical Students
As reports Katie Lobosco for “CNN” in a piece entitled “NYU makes tuition free for all medical students,” “School officials said they have been working towards making the scholarship a reality for 11 years. To date, they have raised $450 million of the $600 million needed to create an endowment that will allow NYU to offer full-tuition scholarships in perpetuity, said Robert Grossman, dean and CEO of NYU Langone Health. ‘Our goal was to raise enough money to enable students to graduate with as little debt as possible,’ Grossman said. Students will still have to cover room and board, as well as other living expenses. NYU students can choose between the traditional four-year MD program or an accelerated three-year degree.”
A Salute to The Home Depot Co-Founder Ken Langone
Ivy Coach salutes New York University for offering free tuition for its medical school students. But we save our biggest salute for the person most responsible for this achievement of a lifetime, Ken Langone. A native of Roslyn Heights, New York, the birthplace of our business, Langone, the son of a plumber, pulled himself up by the bootstraps after serving our nation in uniform to become one of the world’s most successful businesspeople. We just happened to finish reading his autobiography, “I Love Capitalism: An American Story,” and we can’t say we’re surprised to learn of his latest crowning achievement. Congratulations, Ken Langone and well done NYU! We bet the school is mighty glad it admitted him as an MBA student and offered him a night school teaching position when he needed the extra cash all those years ago.