A New York City medical school is set to waive tuition fees for its students after receiving a $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 substantial gift, marking one of the largest donations to a US school and the largest to a medical school to date.
The Bronx, known as New York City’s poorest borough and ranked as the unhealthiest county in the state, will benefit from this generous contribution.
University dean Dr. Yaron Yomer described the donation as “transformational,” stating it “radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it.”
Previously, tuition at the school amounted to nearly $59,000 per year, leaving students burdened with significant debt.
However, the donation will alleviate financial strain, with plans to reimburse final-year students for their spring 2024 tuition and provide free tuition for all students, including current enrollees, starting from August.
Dr. Gottesman’s donation aims to empower students to pursue projects and ideas that may have been financially unattainable otherwise.
The late David “Sandy” Gottesman, Dr. Gottesman’s husband, founded a prominent investment firm and was an early investor in Berkshire Hathaway.
His passing in September 2022 prompted Dr. Gottesman to make this impactful gift.
Dr. Gottesman expressed gratitude for her late husband, acknowledging the role he played in enabling her to make such a significant contribution.
She emphasized the importance of supporting future doctors who would provide quality healthcare, particularly in underserved communities like the Bronx.
Reflecting on her decision to fund tuition for Einstein students, Dr. Gottesman recalled her husband’s instructions to use the funds as she saw fit.
She hopes he would be pleased with the outcome, believing he provided her with the opportunity to make a positive impact.
Source-BBC
