The Albert Einstein College of Medicine in New York has announced that it will offer free tuition to its students following a $1 billion donation from the widow of a major Wall Street investor. The gift is one of the largest ever made to any US school and is the largest ever made to a medical school. Dr Ruth Gottesman, who spent 55 years as chair of Einstein's board, has left these funds in her care for this purpose.
The donation will free up and lift students at Albert Einstein College of Medicine by enabling them to pursue projects and ideas that might otherwise be prohibitive. The college dean Dr Yaron Tomer stated that the gift radically revolutionizes their ability to continue attracting students who are committed to their mission, not just those who can afford it.
The donation will cover tuition for all future students at Albert Einstein College of Medicine and is intended to attract a talented and diverse pool of individuals. The college has stated that this gift will enable generations of healthcare leaders who will advance the boundaries of research and care, free from the burden of crushing loan indebtedness.
The donation was made in memory of Dr Gottesman's late husband David 'Sandy' Gottesman, a prominent Wall Street investor who founded a major investment house and was an early investor in Berkshire Hathaway. He died at the age of 96.
The donation is significant as it will help to reduce student debt for medical students, which has been on the rise in recent years. The average graduate leaves medical school owing more than $200,000 according to a survey by the Association of American Medical Colleges (AAMC).
The donation is also significant as it will help to attract talented and diverse students who may not have had access to medical education otherwise. This will lead to a more inclusive healthcare system that better reflects the diversity of society.
In conclusion, the $1 billion donation made by Ruth Gottesman has been welcomed by Albert Einstein College of Medicine as it will help them attract talented and diverse students while reducing student debt for those who are already enrolled. The college dean Dr Yaron Tomer stated that this gift radically revolutionizes their ability to continue attracting students who are committed to their mission, not just those who can afford it.