Seniors at Cooper Union college in New York City were surprised with the best welcome-back gift Tuesday — a year of free tuition.
The unprecedented announcement was made possible thanks to $6 million grants made by three alumni, the school’s former president, Laura Sparks announced on the first day of classes.
That puts as much as $44,550 back into the pockets of each of the roughly 200 students slated to walk the graduation stage this spring.
Seniors at Cooper Union were told Monday that they will have a year of free tuition. William FarringtonAnd it won’t stop there — there’s enough cash to cover the costs of the next three graduating classes to follow.
“Thanks to the generosity of three extraordinary alumni donors, we are removing a major financial burden for our graduating classes and reaffirming the ideals that have been foundational to this institution since Peter Cooper opened its doors in 1859,” Sparks said in a statement.
The donations were made by one anonymous donor and two named: George Reeves, a 1964 alumnus of Cooper Union’s Albert Nerken School of Engineering, and his wife and business partner Ross Wisnewski, and John Manuck, a 1969 School of Engineering graduate, and his wife Mary, the schools said.
If all goes well, Cooper Union will be tuition-free for all students by the 2028-29 academic year.
The incredible donation comes as the school struggles to return to its free tuition model for all students.
The East Village institution had cost nothing until the fall of 2014, when it introduced a $19,500 tuition fee.
The gift was made possible by $6 million grants made by three anonymous alumni, according to Cooper Union’s president. William FarringtonThat price has since risen to $44,550 tuition for a year at the school, the website shows — though all students currently receive a 50% scholarship.
That whopping total does not include the cost of room and board, however, which Cooper Union estimates to be another $25,000 per year. Those expenses will not be covered by the donation.
The 165-year-old university for art, architecture and engineering has faced criticism over the last decade for charging private school prices at what was once a free institution.
The decision was made after the school drove itself into debt for investing $175 million in an academic building, a poor financial mistake that sparked protests, a lawsuit and an investigation by New York’s attorney general.
The school is seemingly back on track, and has already been subsidizing tuition for most students — more than half of the student body attends tuition-free, and, on average, undergraduates pay less than 15% of the college’s $44,550 tuition.
As long as the school keeps its debts in check and makes cost-cutting measures, Cooper Union students should expect to pay nothing to attend the school in 2028.






