New York medical school eliminates tuition after $1bn gift

A New York City medical school will now offer students free tuition thanks to a generous $1 billion donation from the 93-year-old widow of a prominent Wall Street investor.

Dr. Ruth Gottesman, a former professor at Albert Einstein College of Medicine in the Bronx, made the historic donation, marking one of the largest ever contributions to a U.S. educational institution and the largest to a medical school.

The Bronx, often deemed the unhealthiest of New York's 62 counties, will see a significant impact from this gift, which aims to address financial barriers to education in an area with high need.

Dr. Yaron Yomer, the university dean, hailed the donation as "transformational," stating it will revolutionize their ability to attract students dedicated to their mission, regardless of financial means. With tuition at nearly $59,000 annually, many students face substantial debt burdens, hindering their ability to pursue their passions freely.

Effective immediately, students in their final year will be reimbursed for spring 2024 tuition, and starting August, all students, including current enrollees, will enjoy tuition-free education. This monumental shift will empower students to pursue projects and ideas previously out of reach.

Dr. Gottesman's tenure at the school, spanning back to 1968, saw her contributions in the fields of learning disabilities and literacy programs, alongside the development of widely adopted screening and evaluation protocols. Her late husband, David Gottesman, a pioneer in investment, including early involvement with Berkshire Hathaway, passed away in 2022, leaving behind a legacy that now extends to this remarkable donation.

Expressing gratitude for the opportunity to support such a worthy cause, Dr. Gottesman emphasized the vital role Einstein-trained doctors play in delivering quality healthcare, locally and globally.

Reflecting on her husband's legacy and his bequest of Berkshire Hathaway stock, she expressed her immediate realization to fund free tuition for Einstein students in perpetuity, a decision she hopes would make him proud.

With approximately half of Einstein's first-year students hailing from New York, and a significant portion being women and minorities, this donation ensures access to quality medical education for a diverse cohort of future physicians, echoing the Gottesmans' commitment to equity and excellence.