A $1 billion gift from Michael Bloomberg to Johns Hopkins University, announced on Monday, will allow most students at the university’s medical school to attend free of cost and will also increase financial aid for other students in the university’s schools of nursing and public health and other graduate programs. Bloomberg Philanthropies, which oversees Mr. Bloomberg’s charitable efforts, said in a statement that the gift would ensure that “the most talented aspiring doctors representing the broadest range of socio-economic backgrounds will have the opportunity to graduate debt-free” from the university. Starting with the fall semester, Johns Hopkins will offer free tuition for medical students from families that earn less than $300,000 annually, Bloomberg Philanthropies said. The university will also pay for living expenses and other fees for students from families earning up to $175,000. Mr. Bloomberg, a former mayor of New York City and a graduate of Johns Hopkins, said in a statement that the high cost of medical school and graduate school “too often bars students from enrolling” at a crucial time when the United States faces a shortage of medical professionals.

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Persons: Michael Bloomberg, Bloomberg Philanthropies, Johns Hopkins, “, ” Organizations: Johns Hopkins University, Bloomberg, Johns Locations: New York City, United States