The prestigious Cooper Union school in the East Village may have to end its tradition of allowing all undergraduate students to attend tuition free due to a budget deficit of $12 million a year.
Cooper Union has allowed students to pay nothing to attend for the last 110 years. The school has funded operations with revenue from other assets.
According to a report from The New York Times, the school borrowed heavily to invest in stocks before the market bubble burst, and has struggled with rising costs.
The free tuition has allowed some of the nation's top art, architecture and engineering students to enjoy the best deal in higher education at Cooper Union.
Cooper Union President Jamshed Bharucha told the Times there will be "tough decisions" ahead because "the model that has been in place cannot be sustained."
Friday, May 24 2013 10:44 PM EDT2013-05-25 02:44:03 GMT
The unofficial start of summer is being met with not-so-perfect beach weather. Many beach communities had been hoping for good weather this Memorial Day weekend following the destruction caused by Superstorm Sandy.
The unofficial start of summer is being met with not-so-perfect beach weather. Many beach communities had been hoping for good weather this Memorial Day weekend following the destruction caused by superstorm Sandy. The Fox 5 weather team is calling for sunny skies on Sunday and Monday.
Friday, May 24 2013 9:34 PM EDT2013-05-25 01:34:31 GMT
Actress Amanda Bynes was arrested by New York City police after investigating a report of her allegedly smoking marijuana in the lobby of her Midtown Manhattan building.
Actress Amanda Bynes was arrested by New York City police after investigating a report of her allegedly smoking marijuana in the lobby of her Midtown Manhattan building.
Friday, May 24 2013 9:15 PM EDT2013-05-25 01:15:35 GMT
When workers installed one of the much-heralded bike-sharing stations on West 22nd Street near 10th Avenue, they put it right in front of the brownstones.
When workers installed one of the much-heralded bike-sharing stations on West 22nd Street near 10th Avenue, they put it right in front of the brownstones, impacting the entrances for homeowners and tenants.
Friday, May 24 2013 6:09 PM EDT2013-05-24 22:09:59 GMT
New York State has 17,000 highway bridges. There are some bad ones. The Tappan Zee Bridge, for example, is set to be replaced because of aging infrastructure.
New York State has 17,000 highway bridges. There are some bad ones. The Tappan Zee Bridge, for example, is set to be replaced because of aging infrastructure.
Friday, May 24 2013 5:33 PM EDT2013-05-24 21:33:47 GMT
New Jersey Transit bus riders will soon have a new way to get across the Hudson River: by boat. The agency is partnering with New York Waterways, which will provide ferry service to customers. The
New Jersey Transit bus riders will soon have a new way to get across the Hudson River: by boat. The agency is partnering with New York Waterways, which will provide ferry service to customers. The
Friday, May 24 2013 3:29 PM EDT2013-05-24 19:29:58 GMT
The National Park Service is ending unpaid leave for U.S. Park Police officers earlier than expected. National Park Service Director Jonathan B. Jarvis said the furloughs will end on June 3, after just
The National Park Service is ending unpaid leave for U.S. Park Police officers earlier than expected. National Park Service Director Jonathan B. Jarvis said the furloughs will end on June 3, after just
Friday, May 24 2013 1:25 PM EDT2013-05-24 17:25:15 GMT
The engineer of the commuter train that derailed last week in Connecticut observed an "unusual condition" on the track before the wreck, federal officials said Friday.
The engineer of the commuter train that derailed last week in Connecticut observed an "unusual condition" on the track before the wreck, federal officials said Friday.
Thursday, May 23 2013 10:04 PM EDT2013-05-24 02:04:45 GMT
Former Rep. Anthony Weiner launched his campaign for mayor of New York City this week, but his website seems to indicate he is running for office in Pittsburgh. The stylized and colorized image used in
Former Rep. Anthony Weiner launched his campaign for mayor of New York City this week, but his website seems to indicate he is running for office in Pittsburgh. The stylized and colorized image used in
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