NYU offering free tuition for medical students

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The college, citing concerns about the "overwhelming financial debt" for graduates, made the announcement during its annual "White Coat Ceremony" for new students and their families, The New York Times reported. The tuition break will cover all current and future students, the newspaper reported.

In a statement, NYU said that it would be the only top-ranked medical school nationally to offer full-tuition scholarships to all students.

Tuition had been expected to be approximately $55,000 for the upcoming school year, WNBC reported.

There are 93 first-year students, and another 350 students who have up to three years left before graduating, the Times reported.

While the tuition burden has been lifted, students still will need to fork over about $29,000 annually for room, board and other expenses, WNBC reported.