In a surprise move on Tuesday, Cooper Union's outgoing President Laura Sparks announced that graduating college seniors will not have to pay tuition for the next four years.
Current seniors will receive refunds for any fall semester tuition they've already paid and won't be charged for the spring semester. Over the next few years, students in their first, second and third years will also receive full-tuition scholarships during their senior year, according to the private New York City institution.
This decision was made possible by $6 million in grants from three alumni donors. Cooper Union, which was founded in 1859 had been free until 2014, introduced partial tuition due to financial challenges. This year's undergraduate tuition was set at $44,550. In 2018, the university adopted a plan to return to a tuition-free model within a decade.
"In 2018, we began an ambitious journey to provide full-tuition scholarships for all of our undergraduate students," Sparks said. "The response to our plan and the dedication of Cooper Union alumni and New York City funders have been tremendous."
The school, which specializes in architecture, art and engineering, has raised over $114 million in new funds.
"We are so encouraged that Cooper is moving steadily toward tuition-free undergraduate education for all, and we are thrilled by this amazing opportunity to contribute to achieving this goal now for current students in their senior year. It is an honor to be a part of this investment in the future and a joy to witness the impact of doing so," donors and alumni Ross Wisnewski and George Reeves said.
Interim President Malcolm King will take over the leadership of the college as Sparks steps down this week.
