To the editor:
Your editorial on Monday rightly recognizes that NYU’s low per-student endowment limits the university’s financial flexibility in terms of financial aid.
However, NYU’s situation is not rare — most private colleges and universities are tuition-dependent, and the number of schools with large per-student endowments is relatively small. This means most private colleges and universities manage their financial aid programs within the context of relying mainly on tuition dollars.
In spite of our small per-student endowment, NYU has managed to improve its academic programs, reputation and ranking; substantially increase scholarship aid; and take some important initial steps toward improving affordability. That would not have happened without careful, thoughtful management of our endowment and all our finances.