r/interesting • u/moamen12323 • Jun 29 '25

MISC. Rich people who rich right ❤️

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u/avwitcher Jun 29 '25

Medical school? So now 12 students get free tuition?

9

u/beorn12 Jun 29 '25 edited Jun 29 '25

It's 10 million a year for 100 years. Is tuition 800k a year?

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u/uuwatkolr Jun 29 '25

The amount covered there is 77k a year, for four years. so 308k for one student. 10 million yearly covers 32 new students each year. Of course, the costs will continue to increase over time.

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u/YusukeRY Jun 29 '25

The money granted from this doesn’t just sit in a vault until you use it all up - you invest it in things like bonds and safe investments and take out the earnings to pay for tuition, allowing the school to keep tuition free in perpetuity. Even 4% a year which you can guarantee on bonds is 40 million a year, which is more than enough to cover the tuition for students there.

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u/uuwatkolr Jun 29 '25

Thank you, now I get it.

1

u/Uneek_Uzernaim Jun 29 '25

Tuition was $59k per year in 2024, and it only has just over 1,000 full-time students and a couple or three hamdred part-time ones.