New York medical school eliminates tuition after $1 billion donation

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A medical school in New York City has decided to offer free tuition to students, after a donation of 1 billion dollars from its 93-year-old and a major "Wall Street" investor, the "BBC" reports.

The donation to the College of Medicine "Albert Einstein" came from Dr. Ruth Gottesman, former Bronx school teacher.

It is one of the largest donations ever made to a school in the US and is the largest ever made to a medical school.

The Bronx is the closest borough to New York City.

In a statement, the dean of the University, Yaron Yomer, said that "this transformative gift will fundamentally revolutionize the ability to continue to attract students."

Tuition at this school costs about $59 annually, leaving students with significant debt.

Current four-year students will reportedly be reimbursed for their spring tuition of 2024. Starting in August, all students will receive free tuition.

In an interview for "The New York Times", Gottesman said that he "wanted to finance the students at Einstein to have free education".