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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. 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. (Korn, 8/16)

N.Y.U.’s plan, which was announced Thursday morning in an unexpected ending to the annual “White Coat Ceremony” for new students and their families, goes beyond that, and may spur other top medical schools to follow suit. In a statement, N.Y.U. said that it would be the only top-ranked medical school in the nation to offer full-tuition scholarships to all students. (Chen, 8/16)

Three out of four medical school graduates in 2017 graduated in debt, according to the Association of American Medical Colleges. Of those in debt, the median amount was $192,000, the group says. NYU also says medical school debt is "reshaping the medical profession," as graduates choose more lucrative specialized fields in medicine rather than primary care. (Doubek, 8/17)

Students will still be responsible for books, fees, housing and other costs. The school estimates those education and living-related expenses will total about $27,000 for a 10-month term. "No more tuition ... The day they get their diploma, they owe nobody nothing," said Kenneth G. Langone, board of trustees chairman for NYU Langone Medical Center. The center is named for Langone and his wife, Elaine. (Shannon, 8/16)

It took 11 years for NYU to raise enough funding to make the effort possible. To date, the school has raised over $450 million .... Ultimately, NYU hopes to have an endowment of $600 million to support the effort. The school already allowed students the option to shave off their fourth year of training — typically spent doing additional specialty rotations and applying for residences — saving students a year’s tuition. (Nadell Farber, 8/16)

"This gives our students choice in two ways: First it will enable students who couldn't afford medical school to afford it and the second thing it does is enable students enrolled in medical school to think with a clear eye (about their future specialty)," said Dr. Robert Grossman, the dean of NYU School of Medicine and CEO of NYU Langone Health. NYU leaders also hope the fund will enable the school to attract more diverse candidates who won't be deterred from pursuing a career in medicine because of debt. (Castellucci, 8/16)