Starting this fall, the majority of students at Johns Hopkins School of Medicine will attend tuition-free — because of a $1 billion donation from Michael Bloomberg.
All students who come from families earning less than $300,000 per year are eligible for the free tuition. That’s two-thirds of the current student body, says President Ron Daniels. Those coming from families who earn less than $175,000 will also receive coverage for living expenses like housing.
Daniels said he hopes this will recruit a more diverse pool of aspiring medics to the Baltimore campus.
“There's a lot of talent coming from families who suffer some level of financial disadvantage,” he said. “This opens up the door wider to more talent.”
Incoming eligible students will graduate completely debt-free — while private medical schools nationwide saddle graduates with an average of over $220,000 in debt, according to the Association of American Medical Colleges.
Without that debt, Daniels said students can better serve the nation at large when deciding where and what to specialize in.
“Perhaps not going to a major urban center, but going to parts of the country where there's acute need for doctors and the levels of salary are lower,” he said. “Our students will not have high levels of debt distorting that choice, so they'll be able to follow their passions.”
Daniels said a more diverse group of doctors also improves care outcomes.
“The evidence shows clearly that patients prefer being served by people who have backgrounds similar to theirs,” he said. “So to the extent that our classes look more like the complexity of America, we believe ultimately we'll be able to provide better care to the patients of America.”
Daniels said the gift will go towards the university’s endowment, allowing it to cover tuition and other costs for students “in perpetuity.” Students in other Hopkins graduate programs will also see the boost in financial aid.
Bloomberg graduated from Hopkins in 1964, and has donated repeatedly to the university since. In 2018, he gave $1.8 billion to boost student financial aid.
Stefano Montalvo is starting medical school at Hopkins in the fall. He received full tuition coverage from financial aid. But he said he’s excited for the diverse student body this new support will attract and retain.
“People can correct misconceptions and offer unique viewpoints,” he said. “And so, as future physicians, we'll have a broader perspective of what patients might be going through in their lives, not just the physical symptoms in their bodies.”
