An agreement crafted by New York State's attorney general's office would end litigation that has roiled New York City private college Cooper Union and could put the venerable institution on a path back to offering free tuition, writes The New York Times.
Parties in the case are expected to file court papers Wednesday in support of the settlement, which follows a year of talks and a bitter fight over Cooper Union's finances that pit its administration and board against a chorus of student, faculty, and alumni critics. The state launched an investigation earlier this year into fiscal decisions by college officials that led to spiraling deficits and loan payments.
Cooper Union's teetering finances prompted it to begin charging undergraduate tuition last year, reversing a century-old policy that had been a cornerstone of its reputation. The proposed settlement instructs trustees to establish a committee that will issue a report in 2018 on the again possibility of eliminating tuition. The pact also calls for an independent monitor to oversee the college's management and finances.