New York City medical school offers tuition-free education with $1 billion gift from former professor

Last Updated on February 27, 2024 by Robert C. Hoopes

Ruth Gottesman, widow of a Wall Street investor, has made a historic donation of $1 billion to Albert Einstein College of Medicine in New York. This generous gift will allow the medical school to offer tuition-free education to all students, aiming to attract a diverse pool of applicants who may not have the financial means to attend otherwise.

With the average medical school debt in the U.S. at a staggering $202,453, Gottesman’s donation is believed to be the largest ever made to a medical school in the country. She credits her late husband for leaving her with the financial means to make such a significant contribution.

Having been affiliated with the college for 55 years and serving as the chairperson of its board of trustees, Gottesman’s goal with this gift is to allow students to graduate without the burden of debt. She has been involved in developing screening and treatments for learning problems at the college and believes in supporting educational institutions through her Gottesman Fund, which has also contributed to charities in Israel and the U.S.

Albert Einstein College of Medicine now joins NYU School of Medicine as the only tuition-free medical schools in New York, following NYU’s similar announcement in 2018. Located in the Bronx, the medical school will now have the opportunity to attract bright and talented individuals who may not have considered a career in medicine due to financial constraints.

Gottesman’s remarkable donation will undoubtedly have a lasting impact on the future of medical education and the students who will benefit from her generosity.