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 Sextons 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 universitys $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 generations ball and chain will be the next big economic bubble. But even if student debt doesnt collapse, theres 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.