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Johns Hopkins Community Celebrates Transformative Financial Aid Gift for Medical and ...
Foundation: Bloomberg Philanthropies
Baltimore's Johns Hopkins University is getting a $1 billion gift that will make it tuition-free for nearly two-thirds of its medical students, the Baltimore Sun reports.
The endowment from Bloomberg Philanthropies will cover living expenses and fees for medical students from families earning up to $175,000, including many from low-income and middle-class families.
"This barrier is particularly daunting for students from low-income and middle-class families, who are too often dissuaded from even considering a career in medicine or research," university president Ron Daniels says in a statement.
"By reducing financial obstacles to individual opportunity, we can open our doors more widely than ever and fuel the excellence, innovation, and discoveries that redound to the benefit not only of the students but of society as a whole."
Nearly two-thirds of current medical students at Johns Hopkins will immediately qualify for either free tuition or free tuition plus living expenses, according to the university's website.
The gift will also expand financial aid for graduate degrees at the Bloomberg School of Public Health and School of Nursing.
It's the largest gift in the university's history, the Washington Post reports.
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