BALTIMORE — Johns Hopkins University’s medical school will now be free for most students, thanks to a $1 billion gift from business mogul Michael Bloomberg to his alma mater.
Bloomberg previously also gave $1.8 billion gift to JHU in 2018 – the biggest gift in the university’s history, which went toward undergraduate financial aid.
This new gift means that, starting this fall, medical students whose families make less than $300,000 (which is 95 percent of all Americans) will get free tuition, announced the university today.
For students whose families earn up to $175,000, the university will also cover room and board.
Bloomberg said in a statement:
Bloomberg’s gift echoes another $1 billion gift earlier this year from a former faculty member to eliminate medical-school debt at New York’s Albert Einstein College of Medicine.
JHU says undergraduate students from low-income backgrounds or who are the first in their family to go to college has grown by 43 percent since the 2018 Bloomberg gift.
Almost a third …