April 16, 2019

Around the nation: Around the nation: Mount Sinai's med school will cap debt at $75K for qualifying students

Daily Briefing

    Under the new arrangement, students who qualify for the debt cap will take out no more than $18,750 per year in student loans to cover tuition as well as housing, food, and books, in today's bite-sized hospital and health industry news from Illinois, New York, and Ohio.

    • Illinois: The American Organization of Nurse Executives (AONE) on Thursday announced that it is changing its name to American Organization for Nursing Leadership to better reflect "what [the organization] is about and what nursing leadership has become," according to Mary Beth Kingston, chief nursing officer at Advocate Aurora Health. Kingston said that the original name implies that the organization is exclusively for nurse executives, which can "get in the way of demonstrating that we are an organization for all nursing leadership." The change will take effect in May (Thew, HealthLeaders Media, 4/11).

    • New York: The Icahn School of Medicine at Mount Sinai announced Wednesday that it will cap student debt at $75,000 for students with a demonstrated financial need. Under the new arrangement, students who qualify for the debt cap will take out no more than $18,750 per year in student loans to cover tuition as well as housing, food, and books. David Miller, dean of the medical school said the school has received between $25 million and $30 million in donor pledges to create a fund to support the new scholarship initiative. The effort will go into effect during the next academic year and the school estimates it will provide aid to 40% of students (LaMantia, Modern Healthcare, 4/11).

    • Ohio: Mount Carmel Health System has announced that it will open a $361 million building in Grove City on April 28. The health system will close inpatient services at its Franklinton campus and transfer 1,500 employees and all inpatients to the new, 210-bed facility (Paavola, Becker's Hospital Review, 4/11).

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