From 2000 to 2010, The New School transformed itself into a comprehensive university. It doubled the number of full-time faculty, extended tenure across academic divisions, dramatically increased the number of students enrolled in degree-granting programs, and improved campus governance. The university’s finances remain strong, with balanced budgets, a large growth in endowment, and a commitment to expand the university’s academic core. Below is a more detailed picture of the transformation of The New School during that time.
- Dramatic increase in the academic quality of The New School’s programs, faculty, and student body over 10 years.
- 38 new programs launched since 2001 across the university, including innovative interdisciplinary BA/BS programs in Environmental Studies, Global Studies, and Urban Design/Urban Studies
- The last comprehensive review from Middle States (2003) commended The New School for its cross-divisional academic efforts and its budget and financial management. In November 2009, Middle States accepted the Periodic Review Report and reaffirmed accreditation.
- The New School’s online academic program hailed by Crain’s New York Business as a national model and one of the most sophisticated in New York.
- Enrollment has grown 46% (to more than 10,500 degree students) in the past decade.
- The university’s 2010 graduating class of more than 2,820 students represented a 67% increase in over the class of 2000.
- Freshmen applications have increased by 34% in the past five years.
- Enrollment in the online courses has doubled in four years.
FACULTY EXPANSION AND CULTURE
- The New School has more than doubled the size of its full-time faculty from 156 in 2001 to 415 in 2010. During the 2009-10 academic year alone, The New School appointed 53 new full-time faculty members.
- Creation of a Faculty Senate in 2004-05. In collaboration with this new academic body, the administration has worked to complete a faculty handbook establishing university-wide standards in hiring, appointment, promotion and evaluation.
- Tenure has been established for faculty in all eight academic divisions.
- In spite of the weakened economy, The New School achieved its aggregate goal to raise $110 million over the past three years.
- The divisions achieved 98% of their collective goals to raise $14.3 million, totaling $325 million in almost 10 years.
- A significant portion of fundraising revenue has been used to fund new faculty, new academic programs, and new facilities for the university campus.
- Since 2001, the endowment has grown from $90 million to as much as $232 million (before the 2007/2008 market turndown).
- At the end of the last fiscal year, the endowment had lost 15.2% for the year, compared with the standard of 26.2% loss on the S&P 500.
- In the 2009-2010 academic year, tuition increased by only 4.5% (the national average is 5.9%). The university dedicated 1% of the increase to additional financial aid.
- The university is constructing its first University Center at the corner of Fifth Avenue and 14th Street: a new 365,000-square-foot, 16-floor building with an auditorium, library, cafeteria, expanded classroom and advising space, and a 600-bed student residence. The largest building project in The New School’s history, this multi-purpose building is being built to superior environmental standards and will serve as a teaching tool of sustainable design. It is expected to open in the fall of 2013. ‚Ä¢ In 2009, the university opened a new Welcome Center at 72 Fifth Avenue.
- The New School opened the acclaimed Sheila C. Johnson Design Center at Parsons in 2008, an urban quad, featuring learning spaces, art galleries, a design archive, and an auditorium, receiving a National Honor Award from the American Institute of Architects, one of the highest honors in the field. ‚Ä¢ In the last several years, The New School has made nearly $100 million in improvements to its campus, investing in high-quality facilities that promote collaborative learning and create a more sustainable campus.
- In 1989, The New School opened its first dormitory, Loeb Hall, with 252 beds. Today, the university offers 1,687 beds in five residence halls, including a new student residence, Stuyvesant Park, with more than 600 beds.