Historic $1 Billion Donation from Dr. Ruth Gottesman: Free Tuition for Students at Albert Einstein College of Medicine
Albert Einstein College of Medicine in New York is set to make history with the announcement of free tuition for its students, following a generous donation of $1 billion from former faculty member Dr. Ruth Gottesman. The transformative gift, made in honor of her late husband, David “Sandy” Gottesman, will significantly impact the educational landscape for aspiring physicians.
A Legacy of Philanthropy: The Gottesman’s Previous Contributions
Dr. Ruth Gottesman, 93, who spent an impressive 55 years as the chair of the school’s board, made this monumental donation in the name of her late husband. Sandy Gottesman was an early investor of Berkshire Hathaway and a longtime friend of Berkshire’s CEO, Warren Buffett. The couple had been active in health care philanthropy for years. In 2010, they made a $25 million donation to create the Albert Einstein College of Medicine’s Institute for Stem Cell Research and Regenerative Medicine.
Sandy Gottesman also served on the board of New York’s Mount Sinai Hospital. Dr. Ruth Gottesman, who joined the medical school in 1968 and developed screening, evaluation, and treatments for children with learning disabilities, expressed her gratitude for the opportunity to make this significant gift.
A Transformational Gift: The Largest Donation to Any Medical School in the Country
According to Montefiore Medicine’s President and CEO, Philip Ozuah, “This is the largest donation to any medical school in the country.” Sandy Gottesman passed away in 2022.
The Importance of Education without Debt
In recent years, educational debt has become a significant issue for medical students. An October 2023 survey from the Association of American Medical Colleges (AAMC) found that 70% of medical graduates carried education debt, with the average graduate leaving medical school owing over $200,000. This donation aims to attract talented and diverse students who might not otherwise have the opportunity to pursue a medical education due to financial constraints.
The Impact of the Donation: Attracting Talented and Diverse Students
“This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it,” said Dr. Yaron Tomer, the dean at Albert Einstein. The school intends to use this historic gift to generate a new generation of healthcare leaders who will advance research and care while being free from the burden of loan indebtedness.
Immediate Impact: Fourth-Year Students Receive Tuition Reimbursement
Fourth-year students will receive tuition reimbursement for the spring 2024 semester, while all students will enjoy free tuition as of August 2024 when the fall semester begins.
