Duke University has announced a $30 million commitment from the Rauch Family Foundation to establish an endowment for need-based financial aid for students at its School of Medicine.

The gift will help ease the financial burden on generations of medical students at Duke, open the path to a career in medicine to more students from diverse backgrounds, and enhance the school's ability to compete for students of the highest caliber, according to Mary E. Klotman, dean of the medical school. Currently about 40 percent of the need-based financial aid package for medical students consists of federal loans, and the average Duke medical student graduates with approximately $140,000 in loan debt.

The foundation's founder and Duke alumnus Dudley Rauch ('63) established the Rauch Family Merit Scholarship — the first all-inclusive scholarship in the medical school — in 2013 and made an $8 million estate commitment in 2017 to endow the program. In early 2018, he began discussions with university and school officials about making an even more transformational gift for financial aid but died unexpectedly in July of that year.

"Alleviating the burden of student loan debt is our primary funding priority," said Klotman. "I was fortunate to have met Dudley Rauch and seen first-hand his commitment to helping students fulfill their dreams and reach their potential. The Rauch Family Foundation has shown the same spirit in making this remarkable gift. Their generosity will transform the lives of countless medical students."

"The Rauch Family Foundation Board is excited to be able to honor the memory of its founding member, Dudley A. Rauch," said foundation president Sam Salen. "During his lifetime. Dudley used philanthropy and his love of Duke to advance multiple medical school projects. The foundation board felt it fitting to make this gift, which will in perpetuity assist medical students at Duke to complete their education without such a high debt burden following graduation."