$1 billion gift to make Johns Hopkins medical school free for most

Excerpted from The Washington Post 

A $1 billion gift to Johns Hopkins Universityfrom billionaire Mike Bloombergwill make medical school free for most students and increase financial aid for those enrolled in nursing, public health and other graduate programs.

In a Monday letter in the Bloomberg Philanthropies annual report, Bloomberg addressed the dual challenges of declining health and education.The gift marks an emphatic endorsement of the value of higher learning at a time when academia increasingly has been under political attack.

“As the U.S. struggles to recover from a disturbing decline in life expectancy, our country faces a serious shortage of doctors, nurses, and public health professionals — and yet, the high cost of medical, nursing, and graduate school too often bars students from enrolling,” wrote Bloomberg, a 1964 graduate of Johns Hopkins and the founder of the Bloomberg business and financial data news company. “By reducing the financial barriers to these essential fields, we can free more students to pursue careers they’re passionate about — and enable them to serve more of the families and communities who need them the most.”

Starting this fall, Johns Hopkins will offer medical students free tuition — normally about $65,000 a year for four years — if their families earn less than $300,000 a year.

Students from families earning up to $175,000 a year will have living expenses and fees covered as well.

“It’s a full-ride scholarship,” Hopkins President Ronald J. Daniels said. “We see that as a very significant move to ensure that medical education is available to the best and brightest across the country.”

Read the full story at The Washington Post