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Graduation at NYU. Photo: Atilgan Ozdil/Anadolu Agency via Getty Images

NYU is fully covering the cost of tuition for its medical students, regardless of their financial standing, in an attempt to expand career options, reports Melissa Korn of the Wall Street Journal.

Why it matters: Students coming out of NYU's medical school have been saddled with hundreds of thousands of dollars in student loan debt after graduating, but NYU's unorthodox strategy will change that moving forward, allowing graduates to obtain more career flexibility.

The details: The school has already raised $450 million of a $600 million fundraising goal to perpetually fund the department's tuition package.

  • The school will provide full scholarships for 93 first-year students as well as 350 students already partially through the M.D. program.
  • 75% of students in 2017 graduated with an average of $190,604 in student loan debt, per data from the Association of American Medical Colleges.
  • 62% of NYU's medical students average $184,000 in debt overall.

The big picture: Freeing medical students of debt opens up new career opportunities for them in career paths that may not be as lucrative as researchers in the field and primary care physicians.

It also opens up the opportunity to diversify the field, Korn writes: "Schools are also seeking to better reflect the population of U.S. patients in terms of race, ethnicity, gender and socioeconomic backgrounds."

Go deeper

Updated 10 hours ago - Sports

The potential GOAT of chess faces intriguing challenger

Illustration: Sarah Grillo/Axios

The World Chess Championship between Norway's Magnus Carlsen and Russia's Ian Nepomniachtchi began on Friday, 1,094 days after Carlsen won his fourth consecutive title.

Why it matters: During the long, COVID-fueled layoff, chess entered a new era, and with the championship finally here, the age-old game is ready for its close-up.

Department of Interior proposes raising cost of drilling on public lands

A horizontal drilling rig and a pump jack sit on federal land in Lea County, New Mexico. Photo: Callaghan O'Hare/Bloomberg via Getty Images

Oil and gas companies should pay more to drill on federal lands and waters, the Department of the Interior argued in a report released Friday, saying that the current rates were "outdated."

Driving the news: The Department of Interior report said that the federal government's oil and gas leasing and permitting program "fails to provide a fair return to taxpayers, even before factoring in the resulting climate-related costs that must be borne by taxpayers."

11 hours ago - Health

U.S. to restrict air travel from 8 countries over new COVID variant concerns

A COVID-19 vaccine is administered. Photo by Joe Raedle/Getty Images

The U.S. will impose new air travel restrictions in response to the Omicron variant, a new COVID strain first detected in South Africa, President Biden announced Friday.

The big picture: Air travel from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi will be restricted starting on Monday.

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