May 14, 2012

As summer approaches, I ask you to put this academic year in perspective and reflect on a new climate for higher education at The New School and elsewhere. Colleges and universities can no longer take their role for granted, but must demonstrate value in an environment that looks closely at scholarship, scrutinizes costs, and asks new questions about the ultimate purpose of a college degree. Because The New School has often been an institution in transition, we are more alert to the future of higher education than many of our peers. In collaboration with faculty, we are devising academic models and programs attentive to changing careers, and learning how the delivery of an education must adapt to meet them.

Throughout the semester, you learned in messages to the community and at multiple town halls that we are changing the university's financial structure to avoid relying on rapid enrollment and tuition increases. We reduced expenses for the upcoming year by approximately $8 million on an overall budget of approximately $330 million. As I described in my March 8 message, reductions were structured to preserve academic services and student support, with substantial cuts to administrative departments and a reorganization of the president and provost's office that saved more than $2.5 million dollars. I am aware that this situation will require additional sacrifices. In a time of belt tightening, Provost Tim Marshall and I have both personally decided to reduce our base salaries by 5% for the coming year.

This week is about celebrating The New School. In every available space, student work is on display and thesis presentations and final projects fill classrooms. Construction on the University Center is moving ahead at an astonishing clip and is expected to open on schedule in Fall 2013. Friends and family of our largest class in history are headed our way to rejoice in graduating students' achievements throughout the week and at New School Commencement on Friday.

The future poses great challenges and limitless opportunities for The New School to be a leader. I send my thanks to each of you for the role you have played in the 2011-2012 academic year and look forward to your active participation in the promising one ahead.

Sincerely,