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New York Medical School Eliminates Tuition After $1 Billion Donation

February 27, 2024

Today's good news story comes from the Bronx, New York.

In a groundbreaking announcement on Monday, Albert Einstein College of Medicine in the Bronx received a transformative $1 billion donation from Dr. Ruth Gottesman, a former professor at the esteemed institution.

The news left students in tears of joy and cheers as Dr. Gottesman revealed her remarkable decision to make the medical school tuition-free.

Credit: ABC World News Tonight with David Muir

The move is expected to alleviate a significant financial burden on students, as tuition at Albert Einstein College of Medicine had previously stood at nearly $59,000 per year. The generous donation will not only eliminate tuition for all incoming students starting from August but also provide reimbursement for the spring 2024 tuition for those in their final year.

Dr. Ruth Gottesman, now 93, has a deep connection with the institution, having begun her tenure at the school in 1968. Her philanthropic gesture reflects a lifelong commitment to education and a profound belief in the impact of medical research and training.

The philanthropist shared the inspiration behind her extraordinary gift in an interview with the New York Times. Dr. Gottesman's late husband, David "Sandy" Gottesman, a renowned figure in the financial world who founded a prominent investment house, was an early investor in Berkshire Hathaway, Warren Buffet's multinational conglomerate.

Recalling her late husband's legacy, Dr. Gottesman explained that he had entrusted her with a "whole portfolio of Berkshire Hathaway stock" and left her with the instructions to "do whatever you think is right with it." This significant financial windfall has now enabled Dr. Gottesman to fulfill a lifelong dream of supporting education and medical research.

"I am very thankful to my late husband, Sandy, for leaving these funds in my care, and I feel blessed to be given the great privilege of making this gift to such a worthy cause," Dr. Gottesman expressed.

Watch the good news video below.