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John Arrillaga, a Bay Area real estate developer and Stanford University alumnus, has committed $55 million to the university’s School of Medicine, which, along with other resources, will eliminate a substantial amount of medical school debt for eligible incoming students. The donation was given as a challenge gift, which the university says it plans to match.
Stanford said the gift effectively doubles the amount of aid the School of Medicine can offer to students with demonstrated need over the next decade.
The university says it has long been a leader in alleviating debt. The med school's Class of 2019 graduated with a median student debt of $89,000. The median national medical student debt that year was $200,000, the Association of American Medical Colleges reported.
