David Geffen’s $100 Million Gift Will Provide Scholarships To UCLA Medical Students
More than 30 UCLA Medical school students will have their tuition, room and board, book and other expenses covered thanks to a $100 million gift from Entertainment mogul David Geffen.
According to the LA Times, the $100 million gift makes Geffen UCLA’s largest individual donor. Geffen gave the medical school a $200 million gift back in 2002. In honor of Geffen’s huge contributions to the school, UCLA renamed its medical college UCLA’s David Geffen School Of Medicine.
The Association of American Medical Colleges reports that nearly 85% of students graduate with some debt. The average student has $170,000 of debt when they graduate. At UCLA, the price of attending the medical school for four years could exceed $300,000 for some students. David Geffen’s $100 million gift will help lessen that bill for many students.
UCLA Chancellor Gene Block said that the school was “eternally grateful” to the entertainment mogul.
“It is a fantastic vote of confidence for higher education. We’re eternally grateful.”
Geffen didn’t comment specifically on the $100 million gift but he did say in a statement that students should not be discouraged by the high price of tuition.
“The cost of a world-class medical education should not deter our future innovators, doctors and scientists from the path they hope to pursue. We need the students at this world-class institution to be driven by determination and the desire to do their best work and not by the fear of crushing debt. I hope in doing this that others will be inspired to do the same.”
Philanthropy.com reports that The David Geffen Medical Scholarship Fund will provide merit-based scholarships to 33 incoming students. The students will have their tuition, books, housing fees and other expenses will be covered by the scholarship.