Bloomberg Philanthropies donates $34M to Meharry Medical College

Local News

NASHVILLE, Tenn. (WKRN) — Former New York City Mayor Michael Bloomberg announced Thursday that Bloomberg Philanthropies has awarded $34 million to Meharry Medical College.

The donation is to help increase the number of Black doctors in the country by significantly reducing their debt burden.

Over the next four years, the historic gift will provide scholarships for medical students with financial need, many of whom have faced increased financial pressures because of the COVID-19 pandemic, according to a press release.

Bloomberg Philanthropies gave $100 million to four HBCU medical schools, with Meharry receiving the largest gift. This is also the largest donation in the college’s history.

Current Meharry School of Medicine students with financial need could be eligible for scholarships of up to $100,000 over four years under the gift. The grant also covers “wrap around” services, such as financial counseling for students and resources to track the program’s success.

“This is a momentous day for Meharry Medical College, our students and the people we serve,” said President Dr. James Hildreth. “We could not be more honored to receive this gift from Bloomberg Philanthropies or more excited about what it means for the future of minority health care for generations to come.”

This is a developing story. Stay with News 2 and for updates.

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