As Cooper Union college students head off to their first day of classes, their bags must feel a bit lighter knowing they won't entirely be in massive student loan debt when they graduate.
The private college located in Lower Manhattan announced Tuesday that seniors at The Cooper Union for the Advancement of Science and Art won't have to pay tuition for the next four years. Any payments already made for the 2024 fall semester will be refunded, the school said, adding that first, second and third-year students will be receiving full scholarships in their final year.
"Thanks to the generosity of three extraordinary alumni donors, we are removing a major financial burden for our graduating classes and reaffirming the ideals that have been foundational to this institution since Peter Cooper opened its doors in 1859," President Laura Sparks said in the announcement.
Free tuition was made possible with millions in donations from alumni George Reeves and John Manuck, along with their partner and wife Ross Wisnewski, and Mary Manuck, as well as one anonymous donor, the school said.
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It's part of Cooper Union's long-term plan to provide full scholarships for all undergraduate students by the 2028-29 academic year, matching its founder's vision.
The school, founded in 1859 by Peter Cooper, used to offer free courses in science, engineering, and art. Current tuition per year is approximately $44,550, half of which is covered by the school, according to its website.
Editor's Note: NBC New York corrected the story to clarify the alumni donors, including one anonymous donor.
