Albert Einstein College of Medicine to offer free tuition after billion-dollar gift

Albert Einstein College of Medicine to offer free tuition after billion-dollar gift

Students enrolled at the Albert Einstein College of Medicine in New York are set to receive a groundbreaking benefit: free tuition. This monumental change comes as a result of an extraordinary $1 billion donation from Dr. Ruth Gottesman, a former faculty member deeply committed to the institution.

Dr. Ruth Gottesman, aged 93, served as the chair of the school’s board for an impressive 55 years. The historic donation was made in honor of her late husband, David “Sandy” Gottesman, renowned for his early investments in Berkshire Hathaway and his enduring friendship with Warren Buffett, the esteemed CEO of Berkshire Hathaway.

The announcement of this transformative gift was made by Philip Ozuah, the president and CEO of Montefiore Medicine, the parent company of the Albert Einstein College of Medicine. Ozuah hailed the donation as the largest ever made to any medical school in the United States.

Sandy Gottesman, a co-founder of First Manhattan Co., a prominent New York-based investment firm, passed away in 2022. The Gottesmans have long been involved in philanthropy within the healthcare sector. In 2010, their generous contribution of $25 million facilitated the establishment of the Institute for Stem Cell Research and Regenerative Medicine at the Albert Einstein College of Medicine. Additionally, Sandy Gottesman served on the board of Mount Sinai Hospital in New York.

Expressing gratitude for her husband’s legacy, Dr. Ruth Gottesman conveyed her sense of privilege in being able to make such a substantial gift to a cause she deeply believes in.

Dr. Ruth Gottesman’s own contributions to the field of medicine are noteworthy. Joining the medical school in 1968, she dedicated herself to developing screening, evaluation, and treatment protocols for children with learning disabilities. Her initiatives included founding the Adult Literacy Program and serving as the founding director of the Emily Fisher Landau Center for the Treatment of Learning Disabilities.

The impact of Dr. Ruth Gottesman’s donation is unparalleled in the realm of educational philanthropy. It surpasses even notable contributions such as Michael Bloomberg’s $1.8 billion gift to Johns Hopkins University in 2018. The significance of such philanthropy extends beyond individual institutions, influencing the landscape of medical education and research.

The donation is intended to attract talented and diverse students who may otherwise face barriers to pursuing a medical education due to financial constraints. By alleviating the burden of tuition fees, the Albert Einstein College of Medicine aims to foster a community of future healthcare leaders who are driven by their passion for service rather than financial considerations.

With this historic gift, the Albert Einstein College of Medicine is poised to continue its mission of providing compassionate care and transforming communities, while also ensuring that its students are unencumbered by the weight of educational debt.