Planning for Higher Education Journal

New York University: Crisis in the Private Sector

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From Volume 1 Number 1 | August 1972
By James J. Morisseau

No institution, public or private, has gone untouched by the current recession in higher education. But the fiscal crisis clearly is more severe in the private sector and perhaps nowhere more visible than at that giant among private institutions, New York University. Faced with a deficit of more than $10 million for 1971-72 and the prospect of a $14 million shortage next year, the university is selling one of its major campuses and, at the recommendation of its Task Force on the Financial Emergency, abandoning a cost-cutting scalpel in favor of the meat axe. This article, based on the task force report and interviews with Dr. James M. Hester, NYU's president, and other key administrators, attempts to analyze the NYU crisis--and the proposed remedies--for whatever value they may hold for other institutions.

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