Institutional Scale
Deflict Increase Beyond Expectation
During the economic downturn, the institution faced escalating financial challenges, with its deficit growing substantially since 1968. Examining the records from the board meetings of Poly reveals the extent of the financial strain: an operating deficit of "$1,585,000 compared to an initially projected $894,000," and another instance showing an "operating deficit of $3,275,000, which exceeded the initial projection by $775,000"(Polytechnic Institute of Brooklyn 2115). These figures indicate the deficits were significantly higher than anticipated. These huge discrepancies between projected and actual financial outcomes underscored the unexpected and exacerbated nature of the financial difficulties, highlighting the institution's struggle to navigate the economic downturn effectively. The increasing deficit figures reflected not just the broader economic challenges of the time, but also the specific financial hurdles that the institution was failing to overcome, leading to a situation that required urgent attention and potentially drastic measures to rectify.
Tuition Raise
In response to its financial challenges, the institution implemented a series of tuition hikes as a corrective measure. Initially, full-time undergraduate tuition stood at $1,900 in January 1970. It was then adjusted to $2,100 by September 1970, increased further to $2,200 in September 1971, reached $2,300 by September 1972, and climbed to $2,400 in September 1973, before finally hitting $2,500 in September 1974. This sequence of increases resulted in a total tuition rise of 32% over a span of five years. The consistent and substantial hikes in tuition fees posed a significant burden, reflecting the institution's "aggressive" approach to tackling its financial predicament.
However, by observing the national tuition average comparison chart, tuition fees at the Polytechnic Institute were found to be consistently about $200 above the national average. Furthermore, When adjusted for inflation, the tuition actually showed a decrease in 1974 and 1975. This suggests that the increases were not particularly aggressive compared to the broader economic context. However, from the perspective of a student who began their undergraduate studies at Polytechnic in 1970 and graduated in 1974, the situation might feel different. Over the course of their education, they would have seen their tuition rise by 30%, which could understandably feel burdensome, regardless of the inflation-adjusted figures. Even though inflation metrics, calculated by the Consumer Price Index (CPI), indicate that tuition costs were relatively decreasing in terms of net personal income, the raw increase in educational expenses can still be a tough pill to swallow for students and their families facing higher bills each year.
Enrollment Drop
While the strategy of increasing tuition fees did provide some relief to the institution's operational deficit, it came with significant unintended consequences on student enrollment. During the period from 1969 to 1972, the institution observed a 25% decrease in enrollment numbers, indicating a substantial drop in the number of students attending. This trend persisted into 1972, where enrollment declined by an additional 10%. This decrease in student numbers suggests that the higher tuition fees may have placed a financial burden on potential and existing students, making it difficult for many to afford the cost of education at the institution. The decline in enrollment could reflect a range of factors including the economic challenges of the time, which may have compounded the financial pressures on families and students, leading to a reassessment of the value or feasibility of pursuing higher education at the institution. This period of declining enrollment underscores the complex interplay between financial sustainability for the institution and accessibility of education for students, highlighting the challenges of balancing budgetary needs with maintaining or growing student numbers in a financially strained environment.