Economics
NYU’s Sexton to Exit as Board Ends Vacation Home Loan Perk
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New York University President John Sexton, under fire from the faculty amid criticism of pay and perks for college administrators, will step down after his term ends in 2016, when he will be 74.
The school will also cease lending hundreds of thousands of dollars to faculty and administrators for vacation homes, limiting its housing assistance program to primary residences, the board of trustees said in a letter yesterday. Some faculty members, who have voted no confidence in Sexton, today reiterated demands that depart immediately.