Following the donation, students' non-discounted annual tuition fee of $60,00 will be completely reduced to zero.

New York:

A medical college has received a donation of 1 billion dollars and after this they have announced to waive the tuition fees of all the students.

Actually, the parent organization of Albert Einstein College of Medicine has given this information in a statement. 

This is the largest donation ever publicly received by an educational institution in the United States.

After this, the non-discounted annual tuition fee of approximately $60,00 for all students will be completely reduced to zero.

The school and its affiliated hospital, Montefiore Medical Center, are in the Bronx, New York, one of the poorest neighborhoods in the United States, with the worst health outcomes in the state, according to official data. 

A clip of the announcement has been posted on social media, in which all the students are seen reacting enthusiastically to the announcement, shouting with joy and clapping.

We are profoundly grateful that Dr.

Ruth Gottesman, Professor Emerita of Pediatrics at @EinsteinMed, has made a transformational gift to #MontefioreEinstein—the largest to any medical school in the country—that ensures no student has to pay tuition again.

https://t.co/XOy9HZLbfDpic.twitter.com/1ijv02jHFk

— Montefiore Health System (@MontefioreNYC) February 26, 2024

"The Albert Einstein College of Medicine has received this transformational donation from Ruth L. Gottesman, Ed.D., Chair of the Einstein Board of Trustees and Montefiore Health System Board Member," the organization said in a statement late Monday.

"This historic gift – the largest given to any medical school in the country – will ensure that no Einstein student will ever have to pay tuition again."

The statement said that all existing fourth year students will be refunded their 2024 semester fees and all new students will be taught for free from August. 

Gottesman, 93, is the wife of David Gottesman, a former clinical professor of pediatrics at Einstein and former Wall Street financier.

He was a significant donor to the school during his lifetime.