In a historic act of philanthropy, 93-year-old Ruth Gottesman has donated $1 billion to the Albert Einstein College of Medicine in the Bronx, ensuring free tuition for all students indefinitely.
A former professor and long-serving trustee at the college, Gottesman made the transformative gift using Berkshire Hathaway stock inherited from her late husband, financier David “Sandy” Gottesman, a longtime associate of Warren Buffett.
$1B donation makes New York medical school tuition free and transforms students’ lives
First year student Samuel Woo had been considering a career in cardiology so he would be able to pay off his medical school debt until the announcement this week of a generous donation that will remove tuition fees at his New York City school.
Now, without the fear of crippling student debt, the 23-year-old whose parents emigrated from South Korea said Tuesday that he can afford to pursue his dream of providing medical services to people living on the streets.
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“I was definitely very emotional and it changes a lot,” said Woo, who had been working as a tutor and at a cafe to help cover his costs.
Ruth Gottesman, a former professor at the Albert Einstein College of Medicine and the widow of a Wall Street investor, announced Monday that she is donating $1 billion to the school in the Bronx. The gift means that four-year students immediately go tuition free, while everyone else will benefit in the fall.
