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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

Wall Street braces for more turbulence ahead of Election Day

Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.

Dave Lawler, author of World
3 hours ago - World

How Biden might tackle the Iran deal

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer/Getty Images

Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.

Kamala Harris, the new left's insider

Photo illustration: Eniola Odetunde/Axios. Photo: Joe Buglewicz/Getty Images     

Progressive leaders see Sen. Kamala Harris, if she's elected vice president, as their conduit to a post-Biden Democratic Party where the power will be in younger, more diverse and more liberal hands.

  • Why it matters: The party's rising left sees Harris as the best hope for penetrating Joe Biden's older, largely white inner circle.

If Biden wins, Harris will become the first woman, first Black American and first Indian American to serve as a U.S. vice president — and would instantly be seen as the first in line for the presidency should Biden decide against seeking a second term.

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