NYMC strives to close the financial gap that exists for medical students. To help students afford the rising cost of medical education, NYMC provides more than $6 million in scholarship funding each year. With increased scholarship support, students can focus on their studies rather than worrying about crippling student debt. Without scholarship support, many of the brightest students might not have been able to attend at all.
But simply affording school is only part of the challenge. A recent Association of American Medical Colleges survey found that 50% of graduating medical students reported that their level of educational debt influenced their choice of specialty. There is a growing concern that student indebtedness may divert the career path of new medical doctors away from general and internal medicine to more lucrative avenues in order to pay off debt, a troubling fact considering the growing need for doctors in the fields of family and internal medicine.
In addition, the Liaison Committee on Medical Education, the accrediting body for M.D. degree programs in the U.S. and Canada, has established student financial aid as a top priority. To achieve full accreditation, medical schools must demonstrate their commitment to providing strong financial assistance to students to keep medical education affordable.
NYMC is now more committed than ever to increasing student scholarship to help offset a percentage of the cost of attendance at the NYMC School of Medicine.
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