Dive Brief:
- Cooper Union students, alumni, and faculty took the New York City college to court when it started charging tuition, in opposition to the ideals of its founder, but a judge recently approved a settlement that allows the college to continue to do so while it comes up with a financial strategy to return to free.
- The New York Times reports Judge Nancy Bannon of the State Supreme Court agreed trustees may have lost sight of founder Peter Cooper's ideals but if the college closes because of its financial troubles, that would frustrate Cooper's charitable intentions as well.
- While the settlement only requires Cooper Union to return to free tuition if it is financially feasible, those who brought the lawsuit seem to be optimistic because of an increased number of students and alumni on the college's board and the establishment of a "free education committee."
Dive Insight:
The president of Cooper Union and five trustees resigned last summer in the middle of the free tuition debate. The settlement agreement was announced in September, along with the appointment of an independent monitor who would keep tabs on the university’s day-to-day financial decisions and long-term planning.
In the wake of poor financial decision-making, college leaders at first supported charging tuition to those who could afford it to free up more money for those who need support beyond tuition for things like housing and books. The college had been tuition-free since its founding by Peter Cooper in 1859. Given the financial situation, it is not clear how many years it will take to get back to that model.