 And that's approximately two-thirds of the class currently. Johns Hopkins President Ron Daniels says the Bloomberg gift will also cover living expenses for med students from families earning up to $175,000 a year. Students will not have to incur any additional debt to attend medical school. Bloomberg made the gift to reverse the decline in life expectancy in the United States. Daniels says doctors without student loan debt will be able to practice in medical areas and in communities where they're needed most.