In a groundbreaking act of generosity, 93-year-old Ruth Gottesman has gifted $1 billion to the Albert Einstein College of Medicine in the Bronx. This donation ensures tuition will be free for all students attending the medical school, now and in the future.
Ruth Gottesman, a former professor and trustee at Albert Einstein College of Medicine, made the donation using Berkshire Hathaway stock inherited from her late husband, financier David “Sandy” Gottesman. Her vision behind this extraordinary gift is to remove the burden of medical debt and open doors of education wider, especially for those from underserved communities.
“We have terrific medical students, but this will open it up for many other students whose economic status is such that they wouldn’t even think about going to medical school,” Ruth Gottesman told the New York Times.
This gift is among the largest ever to a U.S. educational institution and likely the biggest ever to a medical school. With annual tuition topping $59,000, the impact on aspiring doctors — particularly in NYC’s poorest borough — will be life-changing.
“This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it,” said Yaron Tomer, the Marilyn and Stanley Katz Dean at Albert Einstein College of Medicine.
What’s striking about Ruth Gottesman’s donation is that she asked for no building to be renamed in her honor. Her only request was simple — to change lives and expand access to healthcare.
“I wanted to fund students at Einstein so that they would receive free tuition,” Ruth Gottesman told the New York Times.
All students at Albert Einstein College of Medicine will attend completely tuition-free starting this period. All current fourth-year students will be reimbursed for the tuition cost for spring 2024. The donation aims to attract “a talented and diverse pool” of students who may not have been able to pursue a medical education on their own.