support@accepted.com
Get Your Free Consultation!

Which program are you applying to?

  • - Select a program -
  • MBA/EMBA
  • Law School
  • Grad School, PhD
  • MD/DO, Residency
  • Other Healthcare Programs
  • College
  • About Accepted
    • About us
      • The Accepted Advantage
      • Clients Accepted At
      • In The News
    • Client Feedback
    • Contact Us
  • Meet the Team
    • MBA Admissions Consultants
    • Med School Admissions Consultants
    • Grad School Admissions Consultants
    • Law School Admissions Consultants
    • College Admissions Consultants
  • Free Resources
    • MBA
      • Free Guides
      • Selectivity Index
      • Sample Essays
      • Essay Tips
      • MBA Podcast Episodes
      • MBA Deadlines
    • Med School
      • Free Guides
      • Selectivity Index
      • Sample Essays
      • Essay Tips
      • Med School Podcast Episodes
    • Healthcare Programs
      • Free Guides
      • Admissions Straight Talk Podcast for Healthcare Applicants
    • Grad School
      • Free Guides
      • Sample Essays
      • Grad School Podcast Episodes
    • Law School
      • Free Guides
      • Selectivity Index
      • Sample Essays
      • Law School Podcast Episodes
    • College
      • Free Guides
      • Sample Essays
      • Admissions Straight Talk Podcast for College Applicants
  • Services
    • MBA
      • Complete Packages
      • Essay Editing
      • Resume Services
      • Interview Prep
      • MORE
    • Med School
      • Premed Packages
      • Primary App Packages
      • Secondary App Packages
      • Essay Editing
      • Interview Prep
      • MORE
    • Healthcare
      • Postbac Packages
      • MPH Packages
      • NursingCAS Packages
      • PharmD Packages
      • Essay Editing
      • MORE
    • Grad School
      • Complete Packages
      • PhD Packages
      • Essay Editing
      • CV/Resume Assistance
      • MORE
    • Law School
      • Complete Packages
      • Essay Editing
      • Interview Prep
      • MORE
    • College
      • Complete Packages
      • Common App Package
      • Essay Editing
      • MORE
  • Blog
    • MBA Blog Posts
    • Medical School Blog Posts
    • Other Healthcare Blog Posts
    • Grad School Blog Posts
    • Law School Blog Posts
    • College Blog Posts
    • Admissions Straight Talk Podcast
Accepted

Accepted Admissions Blog

Everything you need to know to get Accepted

December 17, 2017

Reading Time: 2 minutes

Can a $250 Million Gift End Student Debt at Columbia Medical School?

Can a $250 million gift end student debt at Columbia Medical School?

Attending Columbia University College of Physicians and Surgeons will give you one of the top medical educations in the country, at one of the highest costs. Tuition for one year is $59,364. If you add in fees and living expenses, you’ll easily get to $90,000. That’s close to $100,000 PER YEAR for four years! According to the Association of American Medical Colleges, the median debt for graduating med school students in 2017 was $192,000.

Dr. P. Roy Vagelos, 88, the former chairman of Merck & Co. and a Columbia Med alumnus, and his wife, Diana, are donating $250 million to the school. The majority of these funds – $150 million – will fund an endowment that the school predicts will eventually enable it to underwrite its student financial aid. According to the school, students with the greatest financial need would get full-tuition scholarships that will also cover living expenses. Those with less need would get grants – not loans – to make up the difference between what they can afford and the cost of medical school.

It will take several years for the endowment to start producing the income to fund the full range of scholarships. The school believes that the gift, combined with additional donations still being sought, will allow all of its students to attend without going into debt.

Lee C, Bollinger, president of Columbia, announced that in recognition of this gift, and other donations the couple has made totaling nearly $60 million, the medical school will officially be renamed the Columbia University Roy and Diana Vagelos College of Physicians and Surgeons.

Dr. Vagelos was a scholarship student at the school in the 1950s. He stated that he hopes the gift will allow Columbia’s med students to pursue careers in family medicine, pediatrics, research, and other areas that are less profitable than the top-paying specialties. “We think that this will make a really important impact on the future careers of our graduates, who will be able to follow their dreams, which was what I was able to do,” he said.

Register for the webinar!

AcceptedFor 25 years, Accepted has helped applicants gain acceptance to their dream healthcare programs. Our outstanding team of admissions consultants features former admissions directors, admissions committee members, pre-health advisors, postbac program directors, and doctors. Our staff has guided applicants to acceptance at allopathic (MD) and osteopathic (DO) medical schools, residencies and fellowships, dental school, veterinarian school, and physician assistant programs at top schools such as Harvard, Stanford, Penn, UCSF, Johns Hopkins, Columbia, and many more. Want an admissions expert to help you get Accepted? Click here to get in touch!

Related Resources:

• Navigate the Med School Application Maze, a free guide
• What’s the Cost of Applying to Med School?
• Sallie Mae: Student Loans with Options and Flexibility, a podcast episode

Article by Accepted / Medical School Admissions / Columbia Medical School, Med Financial Aid

Get Accepted!

Sign up for a free consultation today!

Which program are you applying to?

Blog Categories

  • Admissions Consulting
  • Admissions Straight Talk Podcast
  • College Admissions
  • Grad School Admissions
  • Law School Admissions
  • MBA Admissions
  • Medical School Admissions
  • Other Healthcare Admissions
  • Uncategorized

Most Popular Blog Posts

1. 7 Simple Steps to Writing an Excellent Diversity Essay

2. 4 Ways to Show How You’ll Contribute in the Future

3. How to Write About Your Research Interests

4. Tips for Answering the Yale University Supplemental Essays and Short Answer Questions [2022-2023]

5. When Will Medical Schools Give You an Answer?

6. Sample Essays from Admitted HBS Students

7. Tips for Answering the University of Pennsylvania Supplemental Essay Prompts [2022-2023]

8. Top STEM MBA Programs: A Comprehensive List and Overview of STEM-OPT Eligible B-Schools

Sample Essays

MBA Personal Statement Examples

Medical School Personal Statement Examples

Graduate School Personal Statement Examples

Law School Personal Statement Examples

College Application Essay Examples

 

Home Page Services and Prices MBA Med School Law School Grad School College

About Us Press Room Contact Us Podcast Accepted Blog
Privacy Policy Website Terms of Use Disclaimer Client Terms of Service

Accepted 1171 S. Robertson Blvd. #140 Los Angeles CA 90035 +1 (310) 815-9553
© 2022 Accepted

BBB A+ RatingStamp of AIGAC Excellence

Copyright © 2023 · Education Pro Theme on Genesis Framework · WordPress · Log in