New York medical school to become tuition-free after $1 billion donation

The donation made by former Professor Ruth Gottesman stands as one of the largest charitable contributions to an educational institution in the United States

Ruth Gottesman, a former professor at the Albert Einstein College of Medicine in New York and the widow of a prominent Wall Street investor, has made headlines by pledging a staggering $ 1 billion to her alma mater. This massive donation is set to enable four-year students to pursue their education tuition-free immediately at the medical school. The announcement came through a video posted on social media platform X (formerly Twitter), where a video of the donation was posted.

The 93-year-old benefactor Ruth Gottesman's act of philanthropy stands as one of the largest charitable contributions to an educational institution in the United States and quite possibly the largest to a medical school.

 

The tuition fee at Einstein currently amounts to $63,000 annually, according to a report by AP News. The report added that medical students in the United States often graduate college with debts exceeding $200,000, which can accumulate with time with interest rates, late fees, etc. This donation will alleviate the financial burden the majority of students face in the US.

Who is Ruth Gottesman?

Ruth Gottesman previously served as a professor at Einstein, focusing her research on learning disabilities, developing screening tests, and spearheading literacy programmes.

The donation was facilitated by the fortune amassed by her late husband, David Gottesman. David Gottesman, a protege of Warren Buffett renowned for his early investment in Berkshire Hathaway, passed away in 2022 at the age of 96, leaving his wife with the wealth. He had told her to do whatever she thought was right with the money, according to a report by the New York Times (NYT).

A historic milestone for the Bronx-based medical school

This donation, directed towards a medical institution in the Bronx, is also significant as it is the city's most economically disadvantaged borough. Therefore, this donation will also address healthcare disparities and foster inclusivity in medical education in the US.

The announcement of the donation elicited an emotional response from students and faculty alike, with cheers, tears, and standing ovations.

With the eradication of tuition fees, Albert Einstein College of Medicine aims to attract a diverse pool of aspiring physicians, ensuring accessibility to individuals whom financial barriers may otherwise deter.

Albert Einstein College of Medicine is not the first higher education institute in the US to go tuition-free. According to NYT, New York University also announced tuition-free education for medical students in 2018. This led to a surge of applications in the institute.

We are profoundly grateful that Dr. Ruth Gottesman, Professor Emerita of Pediatrics at @EinsteinMed, has made a transformational gift to #MontefioreEinstein—the largest to any medical school in the country—that ensures no student has to pay tuition again. https://t.co/XOy9HZLbfD pic.twitter.com/1ijv02jHFk

— Montefiore Health System (@MontefioreNYC) February 26, 2024