Michael Bloomberg – Instagram
Bloomberg has donated $1 billion to cover tuition fees and make medical school free for most students.
+ Viral TikTok trend disgusts people and doctors warn of health risks
Michael Bloomberg announced a $1 billion donation to Johns Hopkins University. The entrepreneur and former New York City mayor aims to make the institution’s medical school free for most students and increase financial aid for nursing and public health students.
Currently, nearly two-thirds of Johns Hopkins medical students receive financial aid, and future doctors graduate with an average debt of over $100,000. Bloomberg’s donation will benefit students from families earning less than $300,000 per year.
For students from families earning less than $175,000 per year, Johns Hopkins will cover housing and living expenses in addition to tuition. According to the Washington Post, Bloomberg Philanthropies has donated $4.55 billion to Johns Hopkins University over the years, including a $1.8 billion donation in 2018.
According to a report released by the organization, the donations have significantly increased the number of students from low-income families. These students currently represent 21% of Hopkins’ student body; a decade ago, this group represented only 9% of students.
“As the United States struggles to recover from a troubling decline in life expectancy, our country faces a serious shortage of doctors, nurses, and public health professionals,” said 82-year-old Bloomberg. “And yet, the high cost of medical, nursing, and graduate education often prevents students from enrolling.”
“As Johns Hopkins has become more economically diverse, it has also become more selective, attracting and enrolling more of the country’s top students, including many from low-income families who may not have previously applied.”
This content was created with the help of AI
