Bronx, New York-based Montefiore Einstein, the umbrella organization for Albert Einstein College of Medicine and Montefiore Health System, has announced a gift from Ruth L. Gottesman to make the medical school tuition-free in perpetuity. The gift totals $1 billion, the New York Times reports.

Gottesman—a former professor at Einstein and the widow of the late David “Sandy” Gottesman, an early investor in Berkshire Hathaway—is chair of Einstein’s board of trustees and a Montefiore Health System board member. According to Montefiore, all current fourth-year students will be reimbursed their spring 2024 semester tuition, and moving forward all students will receive free tuition (approximately $60,000 a year) at the medical school, founded in 1955 with a mission to welcome all students, without restrictions.

“The gift is intended to attract a talented and diverse pool of students who may not otherwise have the means to pursue a medical education… and enable generations of healthcare leaders who will advance the boundaries of research and care, free from the burden of crushing loan indebtedness,” Montefiore said in a statement.

“This donation radically revolutionizes our ability to continue attracting students who are committed to our mission, not just those who can afford it,” said Albert Einstein College of Medicine dean Yaron Tomer. “We will be reminded of the legacy this historic gift represents each spring as we send another diverse class of physicians out across the Bronx and around the world to provide compassionate care and transform their communities.”

“Each year, well over 100 students enter Albert Einstein College of Medicine in their quest for degrees in medicine and science. They leave as superbly trained scientists and compassionate and knowledgeable physicians,” said Gottesman. “I am very thankful to my late husband, Sandy, for leaving these funds in my care, and I feel blessed to be given the great privilege of making this gift to such a worthy cause.”

(Photo credit: Wikimedia/East Coast Productions/Victor Vanzo)