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NYU Offers Full-Tuition Scholarships for All Medical Students (wsj.com)
New York University said Thursday that it will cover tuition for all its medical students regardless of their financial situation, a first among the nation's major medical schools and an attempt to expand career options for graduates who won't be saddled with six-figure debt [Editor's note: the link may be paywalled]. From a report: School officials worry that rising tuition and soaring loan balances are pushing new doctors into high-paying fields and contributing to a shortage of researchers and primary care physicians. Medical schools nationwide have been conducting aggressive fundraising campaigns to compete for top prospects, alleviate the debt burden and give graduates more career choices. NYU raised more than $450 million of the roughly $600 million it estimates it will need to fund the tuition package in perpetuity, including $100 million from Home Depot founder Kenneth Langone and his wife, Elaine. The school will provide full-tuition scholarships for 92 first-year students -- another 10 are already covered through M.D./PhD programs -- as well as 350 students already partway through the M.D.-only degree program.
We need more home grown doctors. I don't know about the rest of /. but I'm getting older. Right now we've been able to poach doctors from poorer countries but those countries are modernizing so that's not going to last forever.
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Is this really the best way to spend the generous donations of your alumni? Surely there is a better way to spend this money, like a lazy river in an event center.
"Do you want more doctors?
Because that's how you get more doctors."
This way someone can become a doctor and take a not-as-well-paying position in under-served areas or research.
the preceding comment is my own and in no way reflects the opinion of the Joint Chiefs of Staff
we've got a big problem with getting Primary Care Physicians. They don't earn a lot, especially if they've got their own practice. A big part of that it our crap insurance system that fights against paying them every step of the way, but given our political environment switching to a single payer system isn't going to happen any time soon. That's left a lot of them unable to pay their crazy high student loans. Which in turn means doctor shortages, especially in rural communities
That's where importing doctors comes in. They're trained overseas where education is usually paid for by tax dollars. That's made up for a lot of the supply issues. We could fix those issues with better pay but given our insurance system that's not an option. So if we take away those imports and we don't fix the pay problems we're going to have massive shortages.
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Libertarian claptrap.
Plenty of instances where government largesse contributed to the economy. Giving railroads free land in the 1860s. Building the US and Interstate Highway systems in the 1920s through 1960s. Basic research that wouldn't otherwise be funded. Military research (unfortunately) with civilian applications -- Internet, telecommunications, nuclear power, etc.