Cooper began planning for the establishment of The Cooper Union for the Advancement of Science and Art, a tuition-free institution dedicated to providing practical education and fostering innovation.

The Cooper Union was officially inaugurated, offering free courses in science, engineering, art, and architecture to men and women from all social backgrounds. It quickly became a center for intellectual and social activism.

Abraham Lincoln delivered a pivotal speech at The Cooper Union, which significantly enhanced his national profile and contributed to his election as President of the United States. This underscored the institution's importance as a forum for public discourse.

Cooper Union experienced continuous growth and development, expanding its curriculum, attracting talented faculty, and producing graduates who made significant contributions to various fields. Peter Cooper remained actively involved in the institution's affairs until his death.