Donation Makes Johns Hopkins Med School Tuition Free

July 9, 2024

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.

Michael Bloomberg, founder of Bloomberg Philanthropies and Bloomberg LP, announcing a $1 billion donation made to Johns Hopkins University to cover full tuition for most medical students. All students from families earning less than $300,000 will receive the financial aid.

Why It Matters: Only a handful of donations to universities have matched or exceeded $1 billion, with Michael Bloomberg’s being the most recent. Bloomberg, who graduated from Johns Hopkins University in 1964 with an electrical engineering degree, “has really been moved by the challenges that the professions confronted during the course of the pandemic,” according to Johns Hopkins President Ron Daniels. The news comes less than six months after Albert Einstein College of Medicine received a $1 billion gift ensuring free medical school for students.

Did You Know? The average medical student graduated with $200,000 in student debt, not including undergraduate debt, according to 2021-2022 data from the Association of American Medical Colleges.

Read More: Thanks to a $1 billion gift, most Johns Hopkins medical students will no longer pay tuition (The Associated Press)

Photo Credit: Johns Hopkins University

by Emily Hooker, based in Texas