This news is so good I can’t even believe it’s true. Trust me I will be looking for the loophole(s) as much as possible. NYU recently announced that all current and future students enrolled in the MD degree program will receive full-tuition scholarships.
With medical schools charging upwards of $55,000 for tuition this is a breath of fresh air and something I’ve been complaining about for a long time. But, my issue goes beyond medical school.
We recently posted an article titled, YOU COULD SAVE THE WORLD. In it, I explained my theory that human evolution is being suppressed by our constant reliance on MONEY.
If you could cut out some of the financial burdens on every individual in this country imagine the potential. Imagine what the smart kid in the bad neighborhood could do if his parents could move to a less turbulent environment. Hey, play our cards right and there would be fewer bad neighborhoods, to begin with.
Free tuition for all colleges should be implemented, in my opinion. The only drawback I can see is the obvious fact that there will be less money available to the schools. Let’s be honest though, most of that money isn’t going to the students anyway.
“Colleges are required to post their financial information publically”, but there’s often a lot of “undisclosed other expenses”. I’m not being sarcastic. Their statements actually read “undisclosed other expenses”. I wonder how much it REALLY costs to run these schools properly.
With NYU standing to lose a lot of money it seems to me that the answer could be, less than you think. Regardless, I’m still wondering why, and better yet, why now?
“It allows them to attract students from all across the spectrum,” Fresne said. “It importantly encourages students who might be discouraged by the prospect of taking on debt to apply.”
The most logical reason I can come up with that a school as expensive as NYU would even think about let alone initiate free tuition is pretty simple….supply and demand.
Check out this 2017 article from CBS, New report predicts a “troubling” shortage of doctors in the U.S. Now, let’s add this up. Med student goes to college comes out with $250k and up in debt. Now they have to do a residency.
You work your ass off with little sleep all while paying back these loans and hopefully you become a full-fledged money-making machine that saves lives right? Wrong.
Five years later you’re still paying off these loans because, well it’s a lot of money to pay back and you’ve already bought a house and a new car or two. Now you have even more debt to worry about.
At this point, you can either act like you aren’t one medical emergency away from total bankruptcy or you can face the facts. Facts which make it hard to concentrate while in your head every day.
Even more disturbing is the fact that the hospitals are paying less and private practice is comparable to starting a mom and pop store. What if it doesn’t work out?
You have to figure most of the student currently and entering Med School are Millennials. And if there’s one thing you should know about Millennials it’s this; Millennials don’t like debt. Seems like a lot of young adults with dreams of having “DR” in front of their names are choosing a different course.
These young adults know what I just mapped out and that’s only part of the struggle. Because of this and other reasons, there’s a shortage of doctors. If the medical schools keep this up people will start dying in the ER waiting for medical care and once that hits social media it’s on. Supply….and demand.
I wish we could use this angle to push for free tuition outside of a few medical schools, but I understand having a good amount people who save lives is probably something you want to make a priority. So, this is still great news and in retrospect could be the start of something even greater.[Feature Photo by Hush Naidoo on Unsplash]