Over half of medical students graduate with crippling debt but soon a new structure that would see the neediest students receive free medical education tuition at Cornell University
The policy is also expected to be expanded and handle the housing and expenses needs of the students admitted to this institution.
Traditionally, Medical courses have been viewed as very well-paying jobs. It is the accusations of these courses that have placed many people out of undertaking this course. Take, for example, the median debt of a student graduating with a degree. In Cornell University, that figure is estimated to be around 200,000
For a fresh graduate, with no job, no housing, no financial security and unfortunately no job offers yet, this problem is nerve-wracking. With the US having some of the most expensive college tuition fees, the cost-of-living makes this situation even worse.
Free medical education tuition motivation
Across the US, it has been shown that the time taken to repay the debt may vary. It is estimated that a majority of people will take more than a decade to repay the loan. This might have been one of the motivating factors that the medical school considered when coming up with this policy.
The policy is also expected to be expanded and handle the housing and expenses needs of the students admitted to this institution. This ensures that students do not have to get worked up psychologically about how they will survive or thrive in the school once they are admitted.
This proposal has been made possible by donations from various organizations and individual donors who see this as a way to bridge the gap between the poor students and the education system. The Starr Foundation has been heavily involved in raising this amount. The total donations for this project were projected to be over $160 million and it is estimated that an additional $50 million should be raised in the coming years to ensure that this project runs smoothly.
This is not the first university to implement such a policy. New York University medical schools and Columbia medical schools have also implemented such a policy in the last two years.
