(MENAFN- Live Mint) "Dr Ruth Gottesman, a former professor at Albert Einstein College of Medicine is donating $1 billion to the New York City school, the largest gift of its type ever given in the United States, to pay the tuition of all of its students, the institution said on Monday professor is donating from the fortune made by her late husband David“Sandy” Gottesman, a Wall Street finance and early Berkshire Hathaway investor who died in September 2022, Reuters reported.
In a joint statement with the school, she said,“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.”Gottesman joined the medical college in 1968 when she did research on child learning disabilities and created an adult literacy program. Currently, she is the chair of the Einstein Board of Trustees and serves on the board of the Montefiore Health System, the school's affiliate hospital.
The donation will cover the tuition for all current full-time students' spring 2024 semester and provide tuition-free enrollment for all incoming students. After graduating, many students at the school have debts exceeding $200,000. Tuition is approximately $60,000 per year, as per Reuters reports.
“This transformational gift is intended to attract a talented and diverse pool of individuals who may not otherwise have the means to pursue a medical education. It is the largest gift given to a medical school in the nation,” the statement read.
The school, attended by some 1,100 students, is located in the Bronx, an area that ranks last in New York State for health outcomes and factors, according to the University of Wisconsin Population Health Institute.
(With Reuters inputs)
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