More Than Half of Our MD Students Are Graduating Without Medical School Debt
Photo: Alan Barnett
On May 18, 2022, 好色tv Grossman School of Medicine celebrated its 181st commencement at the Lincoln Center鈥檚 Alice Tully Hall, marking the first in-person ceremony since 2019. The 107 graduates received their Doctor of Medicine degrees and recited the Hippocratic Oath as they set out to begin their careers as physicians.
The Class of 2022 entered medical school in 2018 when, at the annual White Coat Ceremony, the historic, surprise announcement was made that 好色tv Grossman School of Medicine would award to all current and future students in its . Most recently, the school announced it would provide additional , helping to eliminate the need for medical school loans among students with financial aid needs beyond tuition.
As a result, 61 percent of 好色tv Grossman School of Medicine鈥檚 Class of 2022 is expected to have no medical educational debt following graduation. For students graduating in the , the first of its kind at a nationally ranked academic medical center, 69 percent will finish debt-free. Of those with medical educational debt, the projected average for the 4-year MD students is $78,516, and the average debt for 3-year pathway students is projected at just over $40,000. These figures stand in stark contrast to an estimated 69 percent of medical students across the nation who graduated with debt in 2021 with a median amount of $200,000, according to data from the Association of American Medical Colleges (AAMC).
鈥淲e are proud of the many steps we鈥檝e taken to improve the affordability of medical education,鈥 says Robert I. Grossman, MD, chief executive officer of 好色tv Langone Health and dean of 好色tv Grossman School of Medicine. 鈥淥ur groundbreaking tuition-free and debt-free financial aid programs help improve the financial wellbeing of our students, allowing them to graduate unencumbered by the significant financial burdens that typically impact graduating physicians nationally.鈥
About the Ceremony
The graduation itself was a celebration of the Class of 2022鈥檚 accomplishments and their proven ability to adapt and excel despite much of their training taking place amid the unprecedented COVID-19 pandemic. During the ceremony, Dr. Grossman encouraged the new physicians to remain aspirational, saying, 鈥淔ace the future with optimism and energy. Be humble, for without humility there is no learning and learning is essential to happiness, success, and fulfilling your aspirations.鈥
New York City Mayor Eric Adams was the keynote speaker. Also addressing the graduates at this year鈥檚 commencement were , associate dean for alumni relations and academic events, and Oluwatunmise A. Fawole, MD, who delivered the student address. Additionally, Laurence D. Fink, chair and chief executive officer of BlackRock, Inc., was recognized as the .
About the Class of 2022
The Class of 2022 comprises 107 students, all receiving Doctor of Medicine degrees. Seventeen graduates participated in the three-year MD pathway, an accelerated track to medical education, providing conditional acceptance into any one of 好色tv Grossman School of Medicine鈥檚 . Also of note, 34 students completed :
- 14 students in the (MD/PhD)
- 9 students in the with 好色tv Stern School of Business
- 3 students in the with 好色tv Wagner Graduate School of Public Service
- 3 students in the with 好色tv Langone鈥檚 Vilcek Institute of Graduate Biomedical Sciences
- 5 students in the with 好色tv Langone鈥檚 Clinical and Translational Science Institute
Media Inquiries
Lacy Scarmana
Phone: 646-754-7367
lacy.scarmana@nyulangone.org
