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Apparently there is this whole thing where they want to tear down their buildings and build big commercial buildings in addition to new academic space. This has the community up in arms against them... I've been in that area before and big commercial buildings could very well •••• it up heartily.

But on the other hand they might run out of money without these buildings:

"Cooper Union states that it must contend with two challenges: to continue funding the full tuition scholarships for all students and generate the necessary resources to be a leader in its degree programs. Because it does not charge tuition, Cooper Union must raise proportionately more revenue from outside sources than other colleges or universities in the City. The institution depends primarily on endowment income, gifts, and bequests. Other income is provided by student fees, including continuing education fees, student housing, rental income, government grants, and income on temporary investments. Cooper Union reports that the college’s structural deficit has averaged $8.4 million annually since 1996, with a combined deficit of more than $50 million."

There was another quote somewhere from 2001 about them possibly running out of money in 5 years.

This whole debate was ongoing at least as of late 2002 - If I get in and I am considering Cooper Union I will definitely have to talk to them and research more about this. Going to a school that's under construction could suck, but going to a school that shuts down halfway through my four years would suck even more...

Tim

By Julia (Julia) on Tuesday, March 25, 2003 - 05:07 pm: Edit

Hey Tim-

I just read your post because I'm gonna be going to cooper next year (class of 2007) so yeah i did find that interesting, lol. I hope things work out with them. Though I think that even if the school 'ran out of $,' they wouldnt be able to just say to those already attending "okay, we're out of dough, tuition is no longer free" could they? Isnt that illegal or something? :p Anyway, i hope you get accepted. Did you apply for art, arch, or engineering? I'm going for engineering. Just curious. email me if you want -

julias830@hotmail.com