Both universities made the decisions after more than 40 women came forward with claims of sexual assault against the 78-year-old comedian, reported Ace Showbiz.
Fordham president Joseph McShane introduced a motion to pull Cosby's doctorate and members of the Board of Trustees of the university unanimously agreed.
It's the first time the university took such steps in its history.
"The University has taken this extraordinary step in light of Mr Cosby's now-public court depositions that confirm many of the allegations made against him," a representative for the university said in a statement.
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Furthermore, the university mentioned the fact that Cosby was "willing to drug and rape women for his sexual gratification, and further damage those same women's reputations and careers to obscure his guilt, hurt not only his victims, but all women, and is beyond the pale."
Meanwhile, Marquette university explained that their decision was greatly affected by Cosby's sexual assault allegations. "By his own admission, Mr Cosby engaged in behaviours that go entirely against our university's mission and the guiding values we have worked so hard to instill on our campus," Marquette President Michael Lovell and Provost Daniel Myers wrote in a statement.