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College debt is nothing to play with. Between finding the money for tuition and room + board, it’s enough to put you in a serious hole long before you graduate. But we’re hoping that other higher learning institutions will make it easier on students after reading this story.

New York University (NYU) is making headlines after word got out about their overwhelming generosity this week. According to reports, the college will cover the tuition costs of all its medical students—and it’s the first top-ranked institution to do so.

From HuffPost: “With the tuition scholarships, the school hopes to alleviate the rising costs of medical education, attract a more diverse class of top students and address physician shortages, NYU Medical School Dean Robert Grossman said on Thursday. Additionally, students who are not saddled with six-figure debt after graduation can pursue fields that may not be as high-paying but still important, such as pediatrics and obstetrics, NYU said in a press release.”

According to the site, Grossman said that covering tuition for all students was always the goal since he became dean 12 years ago. “We really believe that medical student debt is among the biggest issues our country faces in terms of providing excellent physicians to serve our health care needs,” he said. NYU Associate Dean of Admissions Rafael Rivera believes that this move will also help increase the diversity of their medical school class, as it would give those who don’t come from money an equal opportunity to chase their dreams.

After raising $450 million of the $600 million needed to maintain the scholarship, NYU said all med students, current and incoming, will receive $55,018 to cover tuition costs beginning this upcoming academic school year. What a way to set a precedent. Hit the flip to see how people are responding.

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