Starting in the fall, Johns Hopkins medical students from families that earn under $300,000 per year, which includes 95 percent of all Americans, will receive free tuition. Medical students from families earning under $175,000 annually will receive financial aid that covers living expenses in addition to tuition and fees. Approximately two-thirds of current and entering medical students will qualify and will receive their updated financial aid packages over the summer.
"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," said Michael Bloomberg, Founder of Bloomberg Philanthropies and Bloomberg L.P and 1964 graduate of Johns Hopkins. "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."
The gift will also fund expanded financial aid for other graduate health programs, including students at the Johns Hopkins Bloomberg School of Public Health and School of Nursing, as well as those pursuing graduate degrees at the Johns Hopkins schools of Education, Engineering, Business, Arts and Sciences, and Advanced International Studies, the Peabody Institute, and the School of Government and Policy.
This donation to Johns Hopkins by Bloomberg Philanthropies expands upon a 2018 donation of $1.8 Billion to support undergraduate financial aid.