Dean's Newsletter
Archive of previous newsletters
Update on Medical Student Scholarship Aid
January 19 , 2007
"To give away money is an easy matter, and in any man's power. But to decide to whom to give it, and how large and when, and for what purpose and how, is neither in every man's power, nor an easy matter. Hence it is that such excellence is rare, praiseworthy, and noble."
- Aristotle
And so it goes with fundraising for the University of Rochester School of Medicine and Dentistry. Alumni and other friends of the medical school who have the capacity and interest to be philanthropic are faced with many alternatives for their giving. They have been very generous, however, towards the medical school. Indeed, they have supported endowed chairs and professorships, the library, and facilities and technology costs, to name a few examples. Giving in each of these areas is important, and continues to grow. One key area of need that continues to resonate, however, is scholarship aid for students.
Educational indebtedness for our graduates currently averages about $130,000, which is consistent with graduates from private medical schools generally in the United States, according to an AAMC report released in March, 2005. Our graduates will carry these extraordinary debt burdens with them for some time. They cannot typically be paid back during the years of residency and fellowship, however, since incomes are still quite low during that time. Moreover, interest on the debt accumulates, and by the time the repayment schedule begins, it amounts to the equivalent of a home mortgage.
In September, 2004, on the occasion of the Whipple Society dinner of that year, we announced a $10 million fundraising initiative for medical student scholarships. We projected that an increase of $10 million in scholarship endowment would generate $550,000 per year in new scholarship aid, and would grow across time with additional contributions and with investment returns on the endowment. One year into the campaign, I reported that we have received $4.0 million in cash and pledges (newsletter Sept 29, 2005). A little over year later, I am now leased to report the cash and pledges have grown to $8.75 million. If planned giving is added, the total comes to $11.27 million.
In the 9-29-05 newsletter, I highlighted some of the largest gifts from trusts, including Dr, Nyla Kelson '51, Dr. Helen Kingsbury Coffin '32 and Dibby Cleveland, as well as significant named scholarships. These include: the Glenn and Howard Axelrod Family Scholarship, the Ernest Field Merit Scholarship, the Robert and Janet Scala Merit Scholarship, the William C. Manchester Memorial Scholarship, and the Dean Brenda Lee Scholarship. Furthermore, in the 9-6-06 newsletter, I highlighted the generosity of Robert and Lillian Brent, who initiated an Alumni Free Tuition Program with a large gift and an extraordinary vision that has already attracted $180,000 of additional scholarship gifts to this Program from other alumni.
In this newsletter, I will summarize some of the gifts that have accumulated since that time, and finish with some quotes from current students who benefit from these scholarships.
Among a large number of remarkable gifts towards student scholarships from alumni and friends, here are a few examples: George Hicks, M.D., '71 (SMD), Professor of Surgery and Director of the Division of Cardiac Surgery, and his wife Susan Hicks, established the Hicks Family Merit Scholarship. Dr. Hicks states that "The gift to the student scholarship fund was stimulated by my class reunion and represented an opportunity for my wife and me to recognize the educational gift I was given as a student at the medical school. It is hoped that future students will share in the appreciation of an educational process at the URMC which has always been one of special nurturing for students, and which some of us continue to carry forward as educators of residents." Roger Friedlander, '56 (College), UR Trustee and past Chair of the URMC Board, and his wife Carolyn Friedlander, set up a scholarship fund in honor of Dr. Lissa McAnarney, Professor of Pediatrics, who stepped down as Chair of Pediatrics after 13 glorious years. Many other Board members and other supporters have also contributed to this fund.
David Baldwin, M.D. '43 (College) '45 (SMD) met his wife Halee Baldwin '44 (College) during their undergraduate years. Several years ago, the Baldwins decided to leave their Fire Island property to the University at their death. This past summer, they concluded that travel to Fire Island from their home in Manhattan was too much trouble, and gifted the property sooner than anticipated. The proceeds will provide for a scholarship at the River Campus and one for SMD. Paul Schloerb, M.D., '44 (SMD) was a member of the Department of Surgery for many years before moving to Kansas, where he remained for the remainder of his professional career. Dr. Schloerb traveled with his wife, Louise Schloeb, to Rochester for Alumni Weekend this past Fall, and were particularly moved by the idea of the Alumni Tuition Free Program. The Schloerbs generously contributed to this program as well as a fund in Surgery that they had previously established. Mac Evarts, MD, '57, University Distinguished Professor, founding Chair of the Department of Orthopaedics (1974-1986), and former Senior Vice President of Health Affairs (2003-2006), and his wife Nancy Evarts, R.N., '54 (SON), contributed generously to the Merit Scholarship that had been initiated in his name by President Seligman, and also contributed to the Class of '57 Scholarship, for which he is Class Agent.
It is easy to imagine, in a general way, how scholarship aid impacts our students. But the poignancy of this impact can better be understood in the words of the students themselves. Here are some of their words:
Julie Yee, Class of 2007, Jacob David Goldstein Memorial Scholarship: When touring medical schools four years ago, I was most impressed with how supportive and friendly the Rochester administration and community were during my interview visit here. The provision of scholarship aid is continued evidence of the support that the community offers to its medical students, and this was honestly one of the deciding factors in my decision to choose the University of Rochester over other medical schools. I am deeply grateful for the scholarship aid that I have received from the University of Rochester and its alumni. I have truly enjoyed the opportunity to train here, as I am the first person in my family to pursue a professional career. These scholarships have been key in allowing me to support myself financially throughout medical school, and such generous contributions from others will always be appreciated and remembered.
Zachary Borus, Class of 2008, Dr. Marvin J. and Nancy Yanes Hoffman Scholarship: Being a Hoffman Scholar has enriched my medical school experience in multiple ways. Financially, the award will reduce my debt load substantially, which will give me the ability to choose to specialize in a field that I am passionate about, regardless of that specialty's compensation. The Hoffman Scholarship has also allowed me and my wife, Kate, to establish a close bond with Dr. and Mrs. Hoffman. They have been incredibly welcoming and friendly, providing a supportive mentoring relationship and frequent evenings of great conversation. They even came all the way to rural Iowa to help celebrate our wedding! The relationship with the Hoffmans, and not feeling crushed by debt as I head into my last year of medical school, have made a huge impact on my time at Rochester and my feelings toward the medical school. Kate and I hope to be able to help future medical students at U of R in the same way the Hoffmans have helped us.
Sara Bozorg, Class of 2008, Lucy R. Burne Scholarship: Receiving the scholarship has not only helped my family and me financially; it has been, in a way, a form of encouragement. That is, I have felt that someone thought my medical education was important enough to support. And remembering this generosity through my medical school years adds to the warmth I feel towards Rochester. I feel more tied to Rochester and the traditions here.
Tracy Fuller, Class of 2008, Redmond Scholarship: With the high cost of medical education today, debt is a big issue for medical students. Without the scholarships I received from Rochester, I probably would not be attending school here and would have missed out on a quality education. Besides helping to lift the financial burden, scholarships can offer support to students in other ways. I have had the honor of meeting the benefactors for one of my scholarships, Dr. Arthur Redmond and his wife Mary. Dr. Redmond is a 90-year-old alumnus of Rochester and is still actively giving back to the school and students like myself. It is inspiring to hear his stories and encouraging to know that he is behind me, both personally and financially.
Marjorie Gloff, Class of 2008, Carl B. Emerson Memorial Scholarship: Embarking on the medical school path was a no-brainer for me. I had wanted to be a doctor ever since I was really little. It was a romantic thought really, considering my family was very, very financially strapped growing up. My parents realized that there was no way they'd be able to pay for college for my sister and me but they didn't want us to give up on that dream. They always encouraged hard work and they'd always say it'd pay off, somehow. I believed them. I still remember the day I received the acceptance to the U of R, my first choice medical school! I just jumped up and down in the post office and then called my mom and dad. After all of that, it hit me…there was no way I'd be able to afford to go to a school like Rochester. I still remember the conversation with my now-husband about the cost of medical school and how the debt would be bigger than any mortgage. He was supportive but I know he was scared. Then, Rochester's financial aid package arrived in the mail. I flipped through the paper to the page where the costs are broken down and the loans are listed. My eyes skimmed over a line that had the word "scholarship" in it…wait, I went back to re-read. A scholarship! I couldn't believe scholarships existed for medical school. On that day, I learned that I was the recipient of the Carl B. Emerson Memorial Scholarship. I can't begin to explain the honor I felt to be the selected for of this truly incredible award. Along with that sense of honor was the sense of relief. I had spent so much time trying to figure out how to pay for this education and the scholarship remembering Carl Emerson made that worry much easier to deal with. Three years later, I know I made the right decision to accept Rochester's admission offer and there isn't a day that passes by that I don't think how blessed I am to be able to have this experience.
Zachary Lill, Class of 2010, Merit Scholarship: Receiving the scholarship cemented my decision to attend the University of Rochester School of Medicine. It is another reason why the decision to stay in Rochester was the correct one. Had I chosen to attend a school based solely on tuition, I would be missing out on the great academic and overall experience that I'm enjoying at the URSMD. Since I carry substantial debt including some private loans, this scholarship could lessen the importance of future income on my career choice. In other words, I'm less likely to choose a specialty based on salary to pay off my debt.
The response to SMD's student scholarship initiative has been extremely gratifying. We've virtually achieved our initial $10 million goal which, in retrospect, was probably too modest. Indeed, we anticipate an acceleration in giving as more alumni of the School become aware and engaged in the idea of giving back to an educational program that was the foundation of their career as a physician and/or scientist, and as friends of the school increasingly recognize that investment in our talented students will ensure the excellence of the next generation of physicians, investigators and educators.
I will close with my own version of a well known marketing campaign: Price of a year's tuition at the University of Rochester School of Medicine and Dentistry--$35,800; Price of books, fees, and insurance--$3,594; Average annual living expenses during medical school--$15,000; Scholarship aid to allow attendance at URSMD--priceless.
Meliora,
David S. Guzick, MD, PhD
Dean, School of Medicine and Dentistry
