85% of all students in college now have debt usually in the $200,000 range. It is a sad way to start your adult life. It is not like you spent the money on vacations or investments like property. They are spending the money on a hope. A hope that they will make that money back and double it so they can a long way down the road have the American dream of a family and home to afford. It is even harder for educated women who already are in their late 20's by the time they get their doctorates, have debt, need to find a suitable mate , have children because that biological clock is ticking away compounded with wanting and having to work. The juggling act for women never ceases and now they have to add to their problems incredible debt too.
People from poor families who are smart won't even consider medical school for fear of even more poverty. However, if they do get into a medical school then they have the pressure to pursue the types of medical specialities that pay well and pay fast like dermatology, surgery, neurosurgery and orthopedics. Fields of medicine that don't pay so well are pediatrics, general internal medicine and family practices that are what the general public needs the most. By 2030 there will be an extreme shortage of primary care doctors.
In 2019, a miracle happened. NYU announced that their school of medicine will be a tuition free school for all students accepted. They do still have to pay their room and board and meal plans but it still is an amazing gift. The guy paying all these bills is a wealthy co-founder of Home Depot who just wants to give back to society. He donated $100 million dollars and will be raising an additional $300 million dollars to keep the program going in the future. It took a decade to organize the project. It used to be a combination of scholarships and student loans. Now all is on a full scholarship. All loans should be forgivable if the educated professional is willing to serve their professionalism in neighborhoods that need their help the most. If you become a wealthy doctor you should pay back and sponsor a scholarship tax free.
Since the announcement, applications from minorities have soared and poor smart competent students who would love to take their debt free skills back to their communities where doctors are scarce and black male doctors are scarce too. We need all schools to take NYU's lead.
People from poor families who are smart won't even consider medical school for fear of even more poverty. However, if they do get into a medical school then they have the pressure to pursue the types of medical specialities that pay well and pay fast like dermatology, surgery, neurosurgery and orthopedics. Fields of medicine that don't pay so well are pediatrics, general internal medicine and family practices that are what the general public needs the most. By 2030 there will be an extreme shortage of primary care doctors.
In 2019, a miracle happened. NYU announced that their school of medicine will be a tuition free school for all students accepted. They do still have to pay their room and board and meal plans but it still is an amazing gift. The guy paying all these bills is a wealthy co-founder of Home Depot who just wants to give back to society. He donated $100 million dollars and will be raising an additional $300 million dollars to keep the program going in the future. It took a decade to organize the project. It used to be a combination of scholarships and student loans. Now all is on a full scholarship. All loans should be forgivable if the educated professional is willing to serve their professionalism in neighborhoods that need their help the most. If you become a wealthy doctor you should pay back and sponsor a scholarship tax free.
Since the announcement, applications from minorities have soared and poor smart competent students who would love to take their debt free skills back to their communities where doctors are scarce and black male doctors are scarce too. We need all schools to take NYU's lead.
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