(CNN) New York University will offer a scholarship that covers tuition to every new, current and future medical student, it said Thursday.

All students enrolled in the MD degree program are eligible, regardless of their financial need or academic performance. The scholarship covers the full cost of tuition, which this year amounts to $55,018.

The NYU School of Medicine is the first top 10-ranked medical school to make tuition free, the school said. There are currently 442 students enrolled, including the 102 new students entering this fall semester. They learned they would be receiving the scholarship at Thursday's white coat ceremony, which marks the beginning of their careers in medicine.

The cost of medical school can keep some people from pursuing a career in the field . Addressing the affordability issue could help alleviate physician shortages, said Rafael Rivera, associate dean for admissions and financial aid.

About 75% of medical students across the country graduated with debt in 2017. They owed an average amount of $191,000, according to a survey by the Association of American Medical Colleges.

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