$1B Bloomberg Gift Makes Medical School Tuition Free

July 9, 2024 Education, Medicine

Via press release:

Bloomberg Philanthropies today announced a new $1 billion gift to make medical school free at Johns Hopkins University for a majority of students, while also increasing financial aid for students at its schools of nursing, public health, and other graduate schools.

The high cost of medical and nursing school has kept many talented lower-income students from enrolling, graduating, or working in the fields and communities most in need, exacerbating the decline in U.S. life expectancy that began before, and deteriorated during, the COVID-19 pandemic, from which we are only just starting to recover.

The announcement was made in Michael R. Bloomberg’s (JHU ’64) annual letter on philanthropy in the Bloomberg Philanthropies 2023-2024 Annual Report released today.

Currently, nearly two-thirds of all students seeking an M.D. from Johns Hopkins qualify for financial aid, and future doctors graduate from Hopkins with an average total student loan debt of approximately $104,000.

Beginning in the fall of 2024, Johns Hopkins will offer free tuition for medical students from families earning under $300,000 a year – representing 95 percent of all Americans. Additionally, Johns Hopkins will cover living expenses and fees on top of tuition for students from families who earn up to $175,000.

Read the full press release.



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