UVA Medical Alumni Association Scholarship Fund
A gift from an anonymous alumni donor has established the new UVA Medical Alumni Association Scholarship Fund, which will provide need-based financial assistance to medical students.
In 2020, the average medical education debt for a student graduating from the University of Virginia School of Medicine was $160,203. There were 100 graduates with medical education debt, or 66% of the class. The debt ranged from $19,000 – $292,000.
A gift of $25,000 from the donor kicked off the fund in January and was matched by the UVA Medical Alumni Association. The donor has also made a $1 million estate gift through two charitable gift annuities and a bequest.
By providing the seed money for the fund, the alumnus hopes to lessen the burden of debt for tomorrow’s physicians. “The cost of medical education can be really crippling for students as they start their careers and could cause some to reconsider a career in medicine,” the donor says. “I wanted to do my part to help reduce their debt as an alumnus and hope others will join me.”
Barry Collins, executive director of the UVA Medical Alumni Association and Medical School Foundation, says that this gift will have a significant impact for current and future students. “We are truly grateful to this donor for establishing this new scholarship fund,” Collins says. “The support of alumni is critical to our mission, and this is a great example of how they can make a difference.”