Progress in Affordability at NYU

October 2016 Update from the Affordability Steering Committee and Working Group

Image for post
Image for post
The stunning view from the NYU Kimmel Center for University Life. Photo by Sy Abudu

After seven months of thoughtful conversations across campus, the NYU Affordability Steering Committee and the Affordability Working Group are pleased to report below on our progress to date. As presented to the University Senate on October 6th, 2016, our work is not done, but this is progress towards our goal to make NYU more affordable for more students.

We share these updates with the community today to continue the dialogue on what President Hamilton has called “one of the most important, complex, and pressing challenges we face in the coming years.”

Image for post
Image for post
Lower Direct Costs

Textbooks

NYU intends to go further. We recognize that the traditional “in-store full retail price” business model is no longer acceptable given the price advantages offered through e-retailers. Therefore, we have asked leading university bookstore retailers to provide proposals to NYU that reduce the costs of in-store textbooks and materials to match those available online. It is too early to state the savings to students, but our goal is a reduction of 50%. If successful, the savings to the average student for the cost of textbook and materials will be approximately $500 per year compared to retail prices.

In addition, our bookstore and library are working with faculty to make sure they are aware of other options, including open sourced and publicly available readings and online materials available through the library versus “required” books to be purchased.

Reducing the Required Minimum Meal Plan Cost for First-Year Students

Additionally, through the Courtesy Meal Program, NYU provides six free meals per semester for students in need of immediate nutritional support. If a student needs short-term assistance obtaining meals or food, they can visit one of three locations in Manhattan — the Wellness Exchange, Student Resources Center, or Dining Services — and one of two locations in Brooklyn — Student Health Center or the Office of Student Activities.

Students are simultaneously working on complementary resources: Share Meals allows NYU students with extra meal swipes to donate them to students who are in need using a mobile app. Club E.A.T (Eating. Affecting. Talking.) is a student group that reaches out to the public through volunteer work and teaches students to cook nutritious meals on a limited budget.

Housing: Piloting Low-Cost Intergenerational “Homestay” Option

More Free Shuttles Between Campuses

Image for post
Image for post
New Resources

Raised $147.6 Million for Financial Aid in 2015–16

Tripled Undergraduate Scholarship Aid for U.S. Military Veterans

More On-Campus Jobs for Students

Crowdfunding Platform to Engage Donors in New Ways

Free Access to $420* Million in Potential Scholarships

*Updated October 18, 2016: Scholly has informed us that the previously stated $50 million in potential scholarships was amount awarded to date; however $420 million is their current portfolio.

*Updated January 15, 2019: After a pilot program with disappointing results, NYU has ended its contract with Scholly.

Additional Financial Aid Funds

Image for post
Image for post
Savings

Administrative Savings

Energy. Some of the ideas for energy conservation would require significant one-time capital investments. The University’s Office of Sustainability, Energy and Technical Services will provide careful engineering analysis for each of the ideas to determine the payback period for required capital investments. This analysis should be completed in spring 2017. Some operating budget savings may be realized beginning in fiscal 2018, with full savings at a future date to be determined.

Information Technology. The ideas include, but are not limited to, removing hard-wired telephone service in student residence halls, eliminating non-University email services, and consolidating equipment in the University’s data centers. Some savings will be realized beginning in FY17, with full annual savings in FY18.

Procurement. The potential for improved pricing for goods and services exists if the University can offer to its vendors higher volume and engage them in price negotiation. The NYU Procurement Office will analyze recent years’ purchasing practices to identify contracts that can be consolidated and contracts whose terms have not been recently negotiated to secure best pricing. Some savings will be realized beginning in fiscal 2017, with full annual savings in fiscal 2018.

Image for post
Image for post
Access

Additional Pathway and Aid for Transfer Students

Raise.Me “Micro-Scholarships”

Image for post
Image for post
Financial Ed

Helping Students with Financial Choices

Helping Students Manage Deadlines

Image for post
Image for post
Local Benefits

NJ Transit Discount

NYC Discounts

MTA Discount

Image for post
Image for post

The Work Continues

In fact, through our crowdsourcing of ideas and during inspiring conversations across campus, we have identified strong recommendations that are being explored with schools and departments now, such as more institutionalized paths supporting acceleration. See below for details on this thought, and stay tuned for additional information on this — and more — in our next update.

Image for post
Image for post
Work in Progress

Acceleration

  • Designating acceleration advisors; some schools are designating specific individuals who will be responsible for disseminating information (and approving) acceleration, while other schools will be cross training all staff involved in advising students.
  • Updating policies on accepting AP and IB credits; most schools already accept a score of 4 or 5.
  • Creating more 2-credit courses.
  • Offering more January term and summer courses.
  • Allowing up to 8 non-NYU credits to transfer after matriculation, which could allow students to take certain summer courses at a college near home between semesters at NYU.
  • Revising the academic planner on Albert to flag students whose plans exceed 8 semesters. Set the expectation that students should graduate in 8 semesters; extensions would require approval.

NYU Affordability

Taking actions to make NYU more affordable for more…

Committee + Working Group

Written by

Follow us for announcements on behalf of the NYU Affordability Steering Committee and Working Group. For all stories, visit medium.com/nyu-affordability.

NYU Affordability

Taking actions to make NYU more affordable for more students

Committee + Working Group

Written by

Follow us for announcements on behalf of the NYU Affordability Steering Committee and Working Group. For all stories, visit medium.com/nyu-affordability.

NYU Affordability

Taking actions to make NYU more affordable for more students

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store