I'm a physician; I am not, and never will be, a millionaire. I have 300k in student debt that I'm trying to pay off with income based payments (I currently make 60k/yr), but the payments don't touch the principal.
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So are there doctors who are millionaires? Sure. That's not the majority. This tuition would have changed the course of my life.
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General practitioners and pediatricians don’t generally make millions. Specialists maybe, depending on specialty.
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This man explaining doctors salaries to a doctor is my favorite.
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I’m a current medical student (not at NYU) and this news is astounding. To those complaining about it who have never been to med school, you will never understand the burden that hundreds of thousands of dollars of debt can do to someone who’s constantly pushed to edge studying
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I think it’s a huge step in the right direction. Not sure how most of you guys are paying for school now, but the students won’t need part times jobs and have more time for studies. Future doctors being less stressed is good. Wish this happened for teachers too.
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And future doctors can afford to a) practice in needed areas and b) become internists or gps or other lower-psying specialties.
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And if this produces better doctors, I imagine the next group of people to get free tuition will be those in STEM fields hopefully
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Most STEM PhD programs cover tuition and a stipend already.
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So then maybe teachers/education will get this? Finally start investing into those who are going to be responsible for teaching the future.
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I hope so! There are federal loan forgiveness programs, but it'd be beautiful if teachers didn't have to take out loans in the first place. Especially since the pay is so low (for needing postbac training) and their work is so important.
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Some of the comments on this thread are too much! NY taxpayers are not paying for this — NYU is not even a public university (one of its mottos is actually “a private university in the public service.”) They got private donations to fund this. It’s not socialism.
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Yes & no The state also provides nearly $1 billion via its tuition assistance program, which sets an adjusted gross income limit just under $100,000. Those awards are capped at $5,165; many grants are smaller. The excelsior bill (I believe it’s called) is state funded
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Excelsior Scholarship? That is for undergrad at CUNY and SUNY, which are the public schools.https://www.ny.gov/programs/tuition-free-degree-program-excelsior-scholarship …
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Personally I think it’s fantastic that it’s mostly donated monies...if they could get the other 30k a yr donated that would leave the students to their studies. This is how capitalism is supposed to work.
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