This story will be one that many will refer to in the future as being one of the most significant moments for higher education.

Dr. Ruth Gottesman, the 93-year-old widow of a Wall Street financier, has donated $1 billion to the Bronx medical school, Albert Einstein College of Medicine. She has instructed that the donation will be used to cover tuition for all students going forward. Dr. Gottesman is a former professor at the school and Chair of the Board of Governors for the institution.

The donation is not only the largest one ever given to the school, but also important because it is going to a medical school in the Bronx, New York City’s poorest borough.

The moment the students realize their tuition is paid for is most certainly a celebratory one!