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.
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.
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.”