Kerrey served as President of
The New School from 2001 to 2010. During this time he more than doubled the endowment, taking it from $94 million in 2001 to $206 million. He also secured substantial federal funding for the school. Both of these factors helped the New School accomplish major academic growth and expansion in the decade that Kerrey was president. Kerrey presided over an ambitious program of academic development at the university. Under his leadership, the university launched numerous new academic programs, including several joint degree programs. Enrollment increased by 44% to over 10,200, and online course enrollment doubled. He also oversaw an increase in the size of the faculty. The number of full-time faculty members grew from 156 in 2001 to more than 372 in 2009. He also helped to establish the Faculty Senate, which allowed the school to set university-wide standards for promotion, hiring, and faculty evaluation. Additionally, tenure was instituted for all academic departments. On April 14, 2005, Kerrey announced that the university was changing its name from "New School University" to "The New School", and rebranding its eight divisions as specialized, separate entities serving different constituencies. On April 17, 2005, a week after accepting a position as head of Democrats for Bloomberg in support of
Michael Bloomberg's re-election as
Mayor of New York City, Kerrey publicly stated that he was considering running against Bloomberg in the
2005 New York City mayoral election. Three days after announcing his interest, Kerrey announced that he would not run for Mayor, focusing instead on his position as President of the New School. On December 10, 2008, it was announced that Kerrey had received a vote of no confidence from the university's senior faculty. This was perceived to have come as a response to his management style. The no-confidence vote was largely a symbolic gesture. The Board of Trustees offered their unanimous support for Kerrey at a meeting following the faculty vote. On December 16, 2008, dozens of students took over the cafeteria in the 65 5th Avenue building; as the occupation continued, the group grew into hundreds of students from the New School, other New York City based universities, labor union members, and other supporters. Initially, the students stated that they would not leave the building unless several school officials resigned. Kerrey attempted to have a discussion with the students at the beginning of the occupation, but the students voted down that option. The occupation ended after 30 hours when the two parties accepted a treaty; Kerrey agreed to amnesty for the students involved in the occupation, more student space, and more student input in school investments and decision making. Early in the morning of April 10, 2009, 19 students took over the 65 5th Avenue building, erecting an anarchist flag and demanding once again that Kerrey resign. A few hours later, about 20 police officers entered the building, arresting 22 students and ending the occupation after five hours. In December 2012, the
Chronicle of Higher Education reported that in 2010, the year of his anticipated departure, his salary was more than $600,000, and his total take-home pay, including bonuses, deferred compensation and nontaxable benefits, was $3,047,703, making Kerrey the highest-paid private college president in the United States. Kerrey's time as president concluded on January 1, 2011. He was succeeded by
David E. Van Zandt. Kerrey was then appointed President Emeritus. ==Fulbright University Vietnam controversy==