04/15/2014 11:48 am ET Updated Apr 15, 2014

How's That Cooper Union Tuition Plan Working Out? Not So Well.

Allan Montaine via Getty Images

Recently Cooper Union, the New York City college that didn’t charge tuition, decided after a series of bad financial and real estate decisions over the last decade or so (and constructing flashy buildings like that thing, below), to give up and start charging kids to learn.

Founder Peter Cooper said the school should be as “free as air and water” when he helped create the institution back in 1859.

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