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Ayana Archie

Tuition will be free at a New York City medical school thanks to a $1 billion gift

The $1 billion donation from Ruth Gottesman to the Albert Einstein College of Medicine is one of the largest-ever charitable gifts to an educational institution in the United States. (Michael M. Santiago/Getty Images)

Students at the Albert Einstein College of Medicine will no longer have to pay tuition after the school received a $1 billion donor gift.

Ruth Gottesman, who is chairperson of the college's board of trustees, made the donation using money left to her by her late husband, financier David Gottesman, who was a friend of Warren Buffett and whose company, First Manhattan Co., was an early investor in Berkshire Hathaway, according to Forbes.

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