How will you spend your Thanksgiving break?
As most of you read in a universitywide e-mail yesterday (and as WSN is reporting today), NYU has proposed to the Board of Trustees a 3.5 percent tuition increase for the 2010-11 academic year. Given that NYU has a not-so-enviable distinction as one of the most expensive universities in the country, it is understandable that an increase in costs is not welcome news to students.
However, the editorial board is impressed with the administration's ability to keep these cost increases at a 21-year low. We appreciate that, despite an extremely weak economy, increases in financial aid awards will outpace the increases in tuition, housing and fees.
We also applaud the administration's ability to save more than $66 million in annual expenses as long as these cuts continue to have a minimal impact on students. While we understand that cost increases are not welcome, virtually every institution of higher education must raise tuition and fees on a yearly basis to compensate for inflation and function in a financially sustainable way.
To provide students with the best education possible, NYU must attract top faculty and continue to improve various facilities on campus. This task is an expensive one and we believe the administration has managed to rein costs while pursuing a number of capital projects and academic investments.
Construction sites around campus may be a bit of a headache, but they are evidence that the administration is not simply hoarding our tuition dollars, but improving our university in a tangible way.
These investments, both physical and academic, not only improve NYU while we attend, but will improve the reputation of the university in the future. We have invested in the education and name that NYU will provide us after we graduate, and it is important to realize that these changes have an impact for us as alumni.
We think it is critical that the administration remains open and honest with the entire NYU community as it tries to weather an economic downturn that has hurt the financial stability of colleges and universities across the country.
The board understands that not all students will share our view, and we encourage all concerned members of the NYU community to attend the two town hall meetings that have been scheduled to discuss the proposed changes on Feb. 3 from 4 to 5:30 p.m. and Feb. 8 from 1 to 2:30 p.m. in Kimmel Room 914.
