The New School is expected to breakeven by the time the 2024 fiscal year ends on June 30, despite a projected $57 million budget deficit. The university’s short-term and long-term financial stabilization plans to address the deficit were endorsed by the Board of Trustees in December, university spokesperson Merrie Snead told the New School Free Press in an email. The university has made substantial progress in executing their plan through “several mitigation actions,” according to Snead. If their plan is fully realized, “the expectation is that the university will end the fiscal year near or breakeven,” Snead said. The first phase of the university’s plan to address the deficit — stabilizing the university’s current finances — was accomplished by “reducing planned expenditures.”
