Washington University invests $100 million in MD scholarships, education
Washington University School of Medicine in St. Louis has announced that it will commit $100 million over 10 years for scholarships, which it said would give up to 50 percent of its future medical students opportunities to attend medical school for free and others to gain partial tuition support. The effort will start for students enrolling in the 2019-20 class. Washington University said it hopes the program will attract highly qualified students from diverse backgrounds to apply without worrying about school debt.
Perhaps the initiative will also help ease the doctor shortage as well. According to a new report from the Association of American Medical Colleges, the U.S. is experiencing a shortage of doctors with shortfalls ranging from 46,900 to 121,900 physicians by 2032.
“For most medical students, debt is a significant factor in selecting a school and a career path,” said Eva Aagaard, MD, senior associate dean for education and the Carol B. and Jerome T. Loeb Professor of Medical Education,” in a statement. “We want to help alleviate that financial burden and instead focus on training the best and brightest students to become talented and compassionate physicians and future leaders in academic medicine. There, they will teach and inspire future medical trainees to reimagine health through scientific discovery and innovation, and work to help improve the health of people everywhere.
The average debt of Washington University School of Medicine graduates over the past five years is already lower than the average, at $99,088, compared to the national median of $166,239. Also, the institution said in four of the past five years, the school has ranked second lowest nationally in average medical school debt. Plus, it says “each year the school’s tuition is frozen for the entering class, meaning the cost for each student is the same each year for all four years of medical school.”
The AAMC’s analysis, published April 25, 2019, indicates demand for physicians is outpacing supply and said in a release that while rural and historically underserved areas may experience the shortages more acutely, the need for more physicians will be felt everywhere.
Right now, each incoming class at Washington University School of Medicine has about 120 medical students, the school said, with about 20 medical students in each class receiving full tuition scholarships, and some 40 more getting partial tuition scholarships.
“As a top 10 medical school, we have a responsibility not only to our students, but to the future of medicine,” said David H. Perlmutter, MD, executive vice chancellor for medical affairs, the George and Carol Bauer Dean of the School of Medicine, and the Spencer T. and Ann W. Olin Distinguished Professor. “Driven by our focus on excellence in research, education, patient care and community advocacy, we are making investments to ensure that we train tomorrow’s physician leaders who will transform medicine.”
Part of the $100 million investment will go towards revising the medical school curriculum with programs that train and support faculty on learn how best to teach medical students and trainees. A new curriculum will include a focus on integrated clinical, basic and social sciences content, and experiences throughout the four years of medical school and emphasis on addressing the social and economic factors that influence individual health (social determinants of health).
Other schools are also offering significant reductions in tuition, such as New York University School of Medicine, Columbia University’s Vagelos College of Physicians and Surgeons, the David Geffen School of Medicine at UCLA and Kaiser Permanente School of Medicine in Pasadena, CA. However, some of these programs are to help with the high cost of living in New York and California. The cost of living in St. Louis, however, is below the national average, where the Washington University School of Medicine is located.
