The famous Johns Hopkins University will offer tuition waivers for most medical students, thanks to a $1 billion donation from Bloomberg.

Starting in the fall, the donation will cover full tuition for medical students from families with incomes under $300,000. Living expenses and fees will also be covered for students from families with incomes up to $175,000. Bloomberg Philanthropies said that currently nearly two-thirds of all Johns Hopkins medical students who go on to earn their M.D.s qualify for financial aid, and 45% of the current class will also receive money for living expenses.