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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

U.S. grants temporary protected status to thousands of Venezuelans

Venezuelan citizens participate in the vote for the popular consultation in December 2020, as part of a protest against Venezuelan President Nicolás Maduro in Doral, Florida. Photo: Chandan Khanna/AFP

Venezuelans living in the United States will be eligible to receive temporary protected status for 18 months, the Department of Homeland Security announced Monday.

Why it matters: Tens of thousands of Venezuelans have fled to the U.S. amid economic, political and social turmoil back home. Former President Trump, on his last full day in office, granted some protections to Venezuelans through the U.S. Deferred Enforced Departure program, but advocates and lawmakers said the move didn't go far enough.

"She-cession" threatens economic recovery

Illustration: Sarah Grillo

Decades of the slow economic progress women made catching up to men evaporated in just one year.

Why it matters: As quickly as those gains were erased, it could take much, much longer for them to return — a warning Treasury Secretary Janet Yellen issued today.

The Week America Changed

Sandberg thought Zuckerberg was "nuts" on remote work in January 2020

Photo illustration: Sarah Grillo/Axios. Photo: Paul Marotta/Getty Image

Chief operating officer Sheryl Sandberg thought Mark Zuckerberg was "nuts" when he raised the possibility in January 2020 that 50,000 Facebook employees might have to work from home. By March 6, they were.

Why it matters: In an interview Monday with Axios Re:Cap, Sandberg explained how Facebook moved quickly to respond to the pandemic with grants for small businesses and work-from-home stipends for its employees, and how the company has been watching the unfolding crisis for women in the workforce.

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