Albert Einstein college of medicine

Albert Einstein College of Medicine, NYC, receives a historic $1 billion donation

Students of Albert Einstein College of Medicine in NYC, won’t have to pay tuition anymore.

In the history of the United States, this is a first, as a substantial $1 billion donation was gifted to Albert Einstein College of Medicine in New York City.

This benevolent donation came from Ruth L. Gottesman, a former professor, and Wall Street investor’s widow, so that all of the institution’s students might receive an education free of charge.

She is also a board member of Montefiore Health System and head of the Einstein Board of Trustees.

This generous donation translates into amazing news for the students of the institution. All the students starting college this academic year in August were informed that they do not need to pay any tuition fees.

SIMILAR: Read about another heiress planning to give away millions in charity.

As per an official statement given by a school rep. in a now-viral YouTube video, the school management was also “happy to share that starting in August this year, the Albert Einstein College of Medicine will be tuition-free.”

When the students realized, they would not have to pay for their education while attending college, they jumped out of their seats in excitement.

The auditorium erupted in applause, and some people could be seen in the video crying as they gave each other hugs.

On the YouTube video, a commenter wrote, “This is something really profound—affluence no longer determines who can become a doctor.”

All current fourth-year students will get reimbursement for tuition previously paid for their spring 2024 semester, even though the tuition-free program won’t begin until the start of the fall semester.

Albert Einstein College of Medicine Dean Dr. Yaron Tomer said in a statement, “This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it.”

“Every spring, as we send another diverse class of physicians out across the Bronx and around the world to provide compassionate care and transform their communities, we will be reminded of the legacy this historic gift represents,” he continued.

SIMILAR: Read about this community that paid off entire student lunch debt of $85,000.

Albert Einstein collegge of medicine

The president and CEO of Montefiore Einstein, Philip O. Ozuah, M.D., Ph.D., expressed his “deep gratitude” for the “historic and transformational gift.”

“Leave as superbly trained scientists and compassionate and knowledgeable physicians, with the expertise to find new ways to prevent diseases and provide the finest health care to communities here in the Bronx and all over the world,” Dr. Gottesman continued, referring to the annual graduates of Albert Einstein College of Medicine.

Gottesman, 93, has been a part of the college for 55 years and her $1 billion gift is intended to draw in a diverse pool of applicants who might not be able to pay the $59,458 annual tuition at Einstein College, enabling students to graduate debt-free.

This lessens the load of the average debt associated with medical school in the United States, which, according to the Education Data Initiative, is $202,453.

“I feel blessed to be given the great privilege of making this gift to such a worthy cause,” Ruth Gottesman stated.

Maya Bennett