New York University Makes Tuition Free For All Medical Students

New York University Makes Tuition Free For All Medical Students
(FILES) In this file photo taken on May 4, 2012, a flag flies from a building at New York University in New York. STAN HONDA / AFP

 

New York University said Thursday it would offer all its current and future medical school students free tuition in an effort to tackle soaring debt levels and encourage more applicants.

The move — which it said was financed by the generosity of the university’s “trustees, alumni, and friends,” amounts to a reduction of $55,018 in annual fees, regardless of financial needs or academic merit.

It does not cover living and administrative costs averaging $27,000 a year.

“A population as diverse as ours is best served by doctors from all walks of life, we believe, and aspiring physicians and surgeons should not be prevented from pursuing a career in medicine because of the prospect of overwhelming financial debt,” said Dr Robert Grossman, dean of the NYU School of Medicine.

In its statement, NYU also pointed out that high student debt was putting graduates off pursuing less lucrative specializations including paediatrics and obstetrics and gynaecology.

According to the Association of American Medical Colleges, the median debt of a graduating medical student in the US is $202,000 — while 21 per cent of doctors who graduate from a private school such as NYU face over $300,000.

“Our hope -— and expectation —- is that by making medical school accessible to a broader range of applicants, we will be a catalyst for transforming medical education nationwide,” said Kenneth Langone, chair of the Board of Trustees of NYU Langone Health.

Thursday’s announcement came as a surprise ending to the school’s annual white coat ceremony, which marks the start of first-year students’ medical careers.

Those 93 students will benefit from the scholarship, along with 350 others enrolled further along in the program.

NYU said it is the only top 10-ranked medical school in the US to offer such an initiative.

AFP

Zenith Bank appoints JP Morgan to facilitate LSE listing

Zenith Bank has appointed JP Morgan to facilitate a secondary listing of its shares on the London Stock Exchange, the lender said on Wednesday.

Zenith Bank CEO/Managing Director, Godwin Emefiele

The listing is planned to be through a Global Depository Receipt (GDR), a tool used to facilitate investments and trading in the shares of companies from emerging markets.

Zenith said it will seek shareholders’ approval for the listing on Nov. 21 and that one GDR will represent 50 ordinary shares in the local bank.

Zenith already has a primary listing in Nigeria and has a market capitalisation of $3.6 billion.

The deal is subject to regulatory approval, the bank said, adding that it wanted to improve liquidity for its shares with the transaction and not to raise capital.

“Listing on the LSE creates new opportunities for increasing … liquidity in our securities … and diversification of our investor base,” Managing Director of the bank, Godwin Emefiele said in a statement.

Zenith Bank joins the league of four other Nigerian lenders — Guaranty Trust Bank, Diamond Bank, UBA and First Bank — with GDRs trading in London or New York.

Agbani graduates from New York University

Former Miss World, Agbani Darego has just  concluded her studies and obtained a degree in Psychology from the prestigious New York University.

Agbani was a student of Computer Science at the University of Port-Hacourt but suspended her studies after she won the Miss World title in 2001.

She then registered at the University of New York and has been able to strike a balance between her modeling career and schooling.

Agbani has had a successful career in modeling and has become a brand ambassador for L’Oreal, Gentle Touch amongst others.