KeyBank To Fund Medical School Scholarship
The Central New York KeyBank Foundation Committee has awarded Friends of Bassett Healthcare Network a four-year grant of $120,000 to provide scholarship support for one student over the course of their four year Columbia-Bassett Medical School experience beginning this fall.
“Innovative ways of attracting highly skilled physicians to practice in rural areas are crucial given the changing health care environment,” observes Stephen D. Fournier, president of KeyBank’s Central New York District. “The Columbia-Bassett program goes well beyond that by also preparing medical school students to lead the health systems of the future, and that’s why KeyBank felt it was important to demonstrate the Foundation’s support of the program in such a meaningful way.”
Columbia-Bassett Assistant Dean for Education Dr. Henry Weil says the KeyBank grant will be life changing for the student who receives it. “Young physicians coming out of medical school face educational debts that can exceed $200,000, which forces them to make career decisions based upon maximizing their earning potential,” notes Dr. Weil. “Our goal has been to make rural practice a more attractive and viable option by limiting future debt through substantial financial assistance, like the scholarship KeyBank will provide to one deserving medical school student.”
The Columbia-Bassett Medical School Program is a collaborative endeavor of Bassett Medical Center in Cooperstown and the College of Physicians and Surgeons at Columbia University in New York City. The program annually recruits 10 exceptional students with an interest in providing care in underserved rural communities and learning how to manage health care systems that promote both quality and cost-effective delivery of care. Bassett Medical Center underwrites the cost of education for the students, providing $30,000 in scholarships per year per student. The students spend their first 18 months learning the basic science curriculum with the rest of their class in New York City, but their clinical training for the following two-and-one-half years is based at Bassett Medical Center.
This unique program attracts more than 750 applicants each year for the 10 slots. Applicants are from across the country and are among the most qualified of those applying to medical school.