this post was submitted on 08 Jul 2024
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Most medical students at Johns Hopkins University will no longer pay tuition thanks to a $1 billion gift from Bloomberg Philanthropies announced Monday.

Starting in the fall, the donation will cover full tuition for medical students from families earning less than $300,000. Living expenses and fees will be covered for students from families who earn up to $175,000.

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[–] [email protected] -5 points 2 months ago* (last edited 2 months ago) (9 children)

It’s insane making tuition free for medical students, who have the best chances of stable employment and increasing wage growth over the years after graduation. Make tuition free for humanities students instead

Edit: drs have lots of flexible income

Here’s some data though: https://www.collegesimply.com/colleges/maryland/johns-hopkins-university/salaries/

Median US physician salary: https://physiciansthrive.com/physician-compensation/doctor-median-pay/

So this $1B gift to make med school free for people who wouldn’t have had issues paying it off sounds like tax cuts for the rich…

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[–] [email protected] 26 points 2 months ago (1 children)

With a billion dollars, I'd just buy enough congressman to make university free for everyone. They're not even that expensive

[–] [email protected] 8 points 2 months ago (3 children)

He did try to buy an election already.

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[–] [email protected] 269 points 2 months ago (11 children)

Uplifting: this is objectively a ton of good done for these students

Dystopian: this money was earned by the theft of value produced by working class labor and throwing a few breadcrumbs of it back into the system and acting like it’s some great pure good is pure evil and people will lap it up like dogs

[–] [email protected] 69 points 2 months ago* (last edited 2 months ago) (1 children)

Medical education could have been free this whole time through taxes but instead public funding of secondary education was gutted instead of expanded so rich fucks like Bloomburg could keep more money for themselves.

So even worse!

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[–] [email protected] 126 points 2 months ago (3 children)

Yeah. Bloomberg and the other billionaires should be taxed enough so that we can fund this and other social programs for everyone.

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[–] [email protected] 17 points 2 months ago (3 children)

It says starting in the fall it will be free, but how long does 1 billion last? How many years will they be able to do this for now?

[–] [email protected] 8 points 2 months ago

The operating expenses will show a sudden and totally coincidental billion dollar increase in 2024, and tuition will be collected as usual in 2025.

[–] [email protected] 45 points 2 months ago (2 children)

Endowments aim to achieve perpetual existence by only spending dividends from investments. Assume growth of 8% of a billion means they can spend 80 million dollars a year without shrinking the endowment.

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[–] [email protected] 51 points 2 months ago (3 children)

The original Hippocratic Oath made you swear not to charge to teach people about medicine.

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