NYU’s Perks for Its Stars Include Loans for Vacation Homes

John E. Sexton, the university’s controversial president, is among a handful of executives, deans, and faculty members who have received loans to help purchase expensive properties in the Hamptons, Fire Island, or Connecticut, The New York Times reports.

While it’s not unusual for selective institutions in expensive cities to help key professors or executives with home loans, aid in purchasing vacation properties is all but unheard of in higher education, several experts told the Times. Some called the practice a bold new frontier for lavish university compensation.

NYU’s considerable perks for executives made headlines this year during the confirmation hearings for Secretary of the Treasury Jacob J. Lew, a former executive vice president of the university.

“That’s getting to be a little too sexy even for me, and I have a good sense of humor about these things,” said Stephen Joel Trachtenberg, a former president of George Washington University who has publicly defended high salaries for professors and university executives. “… I don’t think that’s prudent. I don’t mind paying someone a robust salary, but I think you have to be able to pass a red-face test.”

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