Ending Vacation-Home Perk, NYU Seeks to Mend Fences

Ending Vacation-Home Perk, NYU Seeks to Mend Fences 1

Gordon M. Grant, The New York Times, Redux

John E. Sexton's vacation home on Fire Island, N.Y., was purchased with the help of a $1-million loan from New York U. The institution announced this week that it would end the controversial practice of extending loans for second homes, a benefit that the chairman of NYU's Board of Trustees said was rarely extended.

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close Ending Vacation-Home Perk, NYU Seeks to Mend Fences 1

Gordon M. Grant, The New York Times, Redux

John E. Sexton's vacation home on Fire Island, N.Y., was purchased with the help of a $1-million loan from New York U. The institution announced this week that it would end the controversial practice of extending loans for second homes, a benefit that the chairman of NYU's Board of Trustees said was rarely extended.

When the New York University faculty geared up for a vote of no confidence in President John E. Sexton this past December, the chairman of the university's Board of Trustees said he was blindsided.

Here was a university president who had helped transform an institution, spearheading bold international efforts and earning a