Claire Potter: Big Debt for Students, Big Perks for University ElitesRoundup: Historians' Take
tags: NYU, Claire Potter, CNN.com, student debt
Claire Potter is a professor of history at the New School for Public Engagement. She blogs at Tenured Radical for the Chronicle of Higher Education.
New York University's 2010 graduating class owed a total of more than $600 million in student loans. It's unlikely the university will forgive them. But NYU has forgiven portions of mortgages they have extended to President John Sexton, other university executives or star faculty - money that has been used to buy properties in Manhattan or vacation homes in the Hamptons.
Does this shock you?
Or, how about this: Treasury Secretary Jack Lew, a former executive vice president at NYU, received an "exit bonus" of $685,000. Just to put this in perspective, Lew's NYU exit bonus alone would have provided free tuition for 275 undergraduates, or a little more than 17% of the incoming class.
The revelations about lavish compensation packages at New York University (my alma mater) have raised a firestorm of criticism. Faculty critics have already publicized NYU's top executive salaries: Sexton takes home nearly $1.5 million, Vivien Lee, the vice dean of science gets $1.1 million, and Robert Grossman, the dean of the medical center, makes a whopping $3.5 million....
comments powered by Disqus
- What Happens When SCOTUS is This Unpopular?
- Eve Babitz's Archive Reveals the Person Behind the Persona
- Making a Uranium Ghost Town
- Choosing History—A Rejoinder to William Baude on The Use of History at SCOTUS
- Alexandria, VA Freedom House Museum Reopens, Making Key Site of Slave Trade a Center for Black History
- Primary Source: Winning World War 1 By Fighting Waste at the Grocery Counter
- The Presidential Records Act Explains How the FBI Knew What to Search For at Mar-a-Lago
- Theocracy Now! The Forgotten Influence of L. Brent Bozell on the Right
- Janice Longone, Chronicler of American Food Traditions
- Revisiting Lady Rochford and Her Alleged Betrayal of Anne Boleyn