nys_oag_sealCooper Union Agrees to Board Restructuring, Financial Monitoring, and Transparency Measures; New Committee Will Develop Plan Aimed At Returning School To Its Traditional Free-Tuition Policy; Court Still Must Approve The Plan

Schneiderman: This Reform Package Will Help Preserve Cooper Union As A National Treasure

“The Cooper Union Alumni Association is encouraged by the news of this settlement agreement. As alumni, we are direct beneficiaries of Peter Cooper’s gift of free education, and understand — on a deeply personal level — the importance of the full tuition scholarship in making our alma mater a vibrant and unique environment for learning,” the Cooper Union Alumni Association said. “As elected representatives of a diverse constituency, the CUAA Council maintained a neutral stance throughout the course of this litigation. However, we have, by resolution, remained steadfastly committed to the preservation of Peter Cooper’s mission and vision, and have welcomed the efforts of the Office of the Attorney General. We are profoundly grateful to the OAG, the Board of Trustees, and the Committee to Save Cooper Union for laying a groundwork in this settlement agreement that mandates the development of a strategic plan to return to the full scholarship model. Furthermore, we are humbled by and proud of the creative efforts, perseverance and personal sacrifices made by countless Cooper Union alumni, students, faculty, and staff in the last four years in their endeavor to defend the historic Mission of Cooper Union. We welcome the opportunity to provide additional alumni representation on the Board of Trustees, and stand with the entire community, willing and ready to commence work on the challenging task before us. Once again, we would like to thank the Office of the Attorney General for recognizing the Cooper Union and its full scholarship policy as a national treasure, and valuing the CUAA’s role in its stewardship.”