Yale University has announced a $25 million gift from the Starr Foundation in support of financial aid at Yale School of Medicine.

The gift will be used to make the MD program affordable for students with demonstrated financial need, and beginning with the 2023–24 academic year, those students will need not take out more than $10,000 in loans per year. Currently, more than half of the 104 students the medical school enrolls each year receives need-based financial aid, with scholarship awards averaging $66,000. Even with that support, students must borrow to cover their costs.

The university will match the Starr Foundation’s gift with an unrestricted contribution of $25 million to the medical school’s endowment to advance the dean’s priorities.

Chaired by Maurice R. “Hank” Greenberg, chair and CEO of Starr Insurance Companies, the Starr Foundation is is a longtime supporter of the university, previously contributing to collections, international programs, and financial aid and scholarships.

“Reducing medical student debt enables exceptional candidates from diverse socioeconomic backgrounds to attend Yale School of Medicine and ensures that they have the financial support and freedom to pursue their education and future careers in medicine without financial burden,” said Nancy J. Brown, the Jean and David W. Wallace Dean of Yale School of Medicine.

“Yale School of Medicine attracts the world’s brightest candidates and prepares them for leadership in every area of medicine,” said Greenberg. “This new program will help to eliminate any concerns about funding the cost of medical school, so that these aspiring doctors can focus instead on their vital work to alleviate suffering and promote health for people everywhere.”

(Photo courtesy of Yale University)