Twenty-four incoming students to the New York University Long Island School of Medicine will be receiving a tuition-free education.

The surprise announcement was made as they were receiving their white coats as part of a symbolic rite of passage.

Elaine and Kenneth Langone announced a $200 million gift to the renamed NYU Grossman Long Island School of Medicine.

"The commitment on our part is our bet that we're betting on great people like each of you to go out and leave the world a little better," Kenneth Langone said.

The announcement of the donation by the philanthropists led to a standing ovation from students, their families and friends.

"I thought it was completely amazing," says Mina Musthafa, a medical student. "I never thought I could go to medical school without incurring any debt."

As a result of the Langone's gift, all current and future students will avoid approximately $200,000 debt when they graduate from medical school.

The students pledged to bring healing to communities on Long Island and beyond.

"A lot of us really want to work with underrepresented community, so I think it helps us stay aligned basically," says medical student Lewarm Ghirmay.

Students who received their white coats Friday will be a part of the Class of 2026 for the NYU Grossman Long Island School of Medicine.