since its founding in 1859. Cooper Union used to fund itself on the proceeds from owning the land underneath the Chrysler building and other land in New York. To increase its reputation, the school tried to build its brand by building a fancy building. But facing large deficits after taking out a $175 million mortgage to erect the new building and incurring investment losses in the financial crash, the school’s board of trustees announced that Cooper Union started charging undergraduate students tuition in 2014. The consequence of the capital spending, combined with other financial struggles, is that something had to give. Undergraduate students will now be charged tuition (up to about $20,000 per year) for the first time in the school’s history.

What Can Be Done?

It is necessary...

Please subscribe to keep reading.