Bloomberg Philanthropies Donates $1 Billion to Johns Hopkins

Johns Hopkins University will offer free tuition for most medical students starting this fall, thanks to a $1 billion donation from Bloomberg Philanthropies. The gift will cover full tuition for students from families earning less than $300,000 and living expenses for families earning up to $175,000, significantly reducing student debt. Currently, two-thirds of Johns Hopkins medical students qualify for financial aid, and this initiative aims to address the shortage of healthcare professionals by removing financial barriers. Michael Bloomberg, an alumnus of Johns Hopkins, emphasized the need to improve public health and education as the U.S. faces declining life expectancy and a shortage of medical professionals. This donation follows Bloomberg's previous $1.8 billion gift in 2018, which improved undergraduate financial aid and increased the number of low-income and first-generation students.