Michael Bloomberg’s $1 billion donation to Johns Hopkins University will make medical school tuition free for nearly all students at his alma mater.
The donation was made by Bloomberg Philanthropies. Announced The donation, announced Monday, will cover 100 percent of tuition fees for medical students whose family incomes are under $300,000. It will also cover living expenses and tuition for students whose family incomes are up to $175,000.
The gift will also increase scholarships for students in the School of Nursing, School of Public Health and other graduate programs, according to a press release.
Bloomberg is a billionaire philanthropist and politician. Said He hopes the donation will help address the decline in life expectancy in the U.S., which has not returned to pre-pandemic levels like other countries.
“As America struggles to recover from a severe decline in life expectancy, our nation faces a critical shortage of doctors, nurses and public health professionals. Yet the high cost of medical, nursing and graduate school too often deters students from enrolling,” Bloomberg said in a press release.
“Reducing financial barriers to these important fields will enable more students to pursue careers they are passionate about and give more to the families and communities that need them most,” he added.
Johns Hopkins University announced that two-thirds of current and incoming medical students will receive free tuition, and they will soon receive updated financial aid packages.
The announcement comes after several other medical schools have taken similar approaches. $1 billion donation Medical school was given free of charge earlier this year by Ruth Gottesman, a longtime professor at the Albert Einstein College of Medicine, and Kenneth and Elaine Langone donated $200 million to NYU Grossman Long Island School of Medicine last year. Free tuition for medical school last year.
Bloomberg donated $1.8 billion to Johns Hopkins University in 2018, making the school’s undergraduate admissions agnostic, meaning family income doesn’t factor into admissions decisions.
