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Thu Aug 2, 2012, 06:03 AM

5 Reasons Why NYU's Expansion Plan Reeks of 1% Greed

http://www.alternet.org/education/5-reasons-why-nyus-expansion-plan-reeks-1-greed



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Student Debt

The Board of Trustees and President Sexton’s office have refused to release the financial plan for the expansion, but even a freshman dance major could compute the problematic economics. The $4 to $5 billion projected cost is nearly twice the university’s $2.83 billion endowment, meaning that future NYU students are likely to see a sharp tuition hike.

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Too Big To Fail

As student debt surged past $1 trillion this spring, many have speculated that this generation’s ball and chain will be the next big economic bubble. But even if student debt doesn’t collapse, there’s a chance that the financing for the Sexton expansion plan will.

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Even the University Hates It

Speaking of faculty opposition, 37 NYU departments have already voted against the plan, and an April vote revealed that two-thirds of the entire university faculty opposed the proposed expansion. Professors have organized a protest group, NYU Faculty Against the Sexton Plan (NYUFASP), undergraduate students have organized OWS4NYU, and the Graduate Student Organizing Committee has joined the fight. The coalition has staged a string of noisy demonstrations, including a May Day picket and a “building block” street theater that highlighted how NYU is “building off student debt.”

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