In addition to the rigors of medical school, studying for board exams and applying for residency programs, medical students are strapped with an additional worry: growing student debt.
The average medical school debt upon graduation is $192,000, according to the Association of American Medical Colleges. For many, that’s a mortgage.
The inaugural class of TCU and UNTHSC School of Medicine students, expected to arrive July 2019, will be able to breathe a little easier, thanks to a generous gift made by pharmaceutical executive, business investor and entrepreneur Paul Dorman.
The H. Paul Dorman Charter Scholarship Program will provide full first-year tuition to 60 students, known as Dorman Scholars. Dorman’s gift will change the lives of these future physicians and the countless patients they will care for in the future.
Dorman is chairman and CEO of DFB Pharmaceuticals, a Fort Worth-based holding company that during the last 20 years has successfully invested, developed and operated multiple pharmaceutical businesses. His entrepreneurial ventures have helped develop life-saving drugs, advance research and improve quality of life for patients. He and his associates are currently actively involved in leading edge development of nanoparticles of chemotherapy drugs for improvement in the treatment of cancer and have four clinical trials in progress.
“I understand the need for exceptionally trained physicians and I believe the TCU and UNTHSC School of Medicine team is creating the right formula to prepare students to practice medicine in the future,” Dorman said. “This school will change the medical and economic landscape of our community and I can’t wait to meet the students who will make up the first class.”
Providing tuition support not only helps relieve debt, it also allows students to pursue all areas of education without feeling pressured to focus on the highest paid specialties. Supported students will lead to passionate physicians.
“The importance of philanthropic support for our future medical students is profound and I am grateful and humbled by Mr. Dorman’s generous gift,” said Stuart D. Flynn, M.D., founding dean of the TCU and UNTHSC School of Medicine. “The value and meaning of this gift to our first class are immense. The Fort Worth community continues to amaze me with its generosity and support and Mr. Dorman’s gift wonderfully exemplifies this.”