The folks at a New York City-based mutual fund firm are helping healthcare workers pay down debt as they continue to battle the coronavirus pandemic.
| Daniel "Dan" Cayley Chung|
Fred Alger Management
CEO and CIO
, CEO and chief investment officer of Manhattan-based Alger
], confirms that the company and its 165 employees have donated $400,000 to cover student debt of the nurse managers at the Brooklyn Hospital Center
. The idea, Chung explains, is to offer a "reward for their service, recognition for their contributions to our community."
"Nurses are the backbone of a hospital," Chung says in a video
that also features interviews with some of the center's nurses. "They are extremely giving, caring, putting themselves at risk."
Chung, though now a fundster leader and PM by trade, reveals that he was a biology major in college and that his sister is a doctor. He recalls learning a few years ago that the average nurse graduates "with something like $85,000 in debt." This, he felt, is "really wrong," even more so in light of the ongoing COVID-19 crisis.
"I don't think there's any nurse who served ... during this time who should be under some crushing debt," Chung says. "They deserve a bonus and recognition now, all of them."
"Nurses have been on the frontline of the #coronavirus crisis since day one and they not only deserve recognition — they deserve a break," Chung adds in a LinkedIn post.
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