<p>Let alone the 3rd largest in the country.The University of Michigan has transformed from a academic institution that provided opportunities to the underprivileged (1/3 of those attending in 1959 were there under the provisions of G.I. bills), to a haven for the rich elite from the east and other upper class areas. It pains me to see such a large amount of Michigan tax payer dollars being funneled into a project that is largely serving the wealthy.</p>
<p>I think a couple things need to be done:</p>
<p>1). The name of the school needs to be changed. If it no longer going to exemplify the egalitarian principles from which it was founded, then there is no reason the name should symbolize the state as a whole.</p>
<p>2). The endowment should be, at minimum, cut in half. It is exuberantly high.</p>
<p>ehz670, there was a time when state funding paid for most of the University’s operating budget. Those days are long gone. For the last 20 years or so, state funding has covered less than 20% of the university’s operating budget (not including the hospital which is self-funded). Today, state funding covers roughly 13% of the University’s total operating budget. That the University still offers discounted IS tuition rates to 65% of its undergrads is more than fair.</p>
<p>I don’t care how they manage THEIR budget; I am more concerned by the fact that Michigan commits 20% of ITS executive budget to a project that hardly benefits even a SMALL minority of the state.Michigan State receives $1 billion; U of M receives $7 billion. Michigan State students matriculate into the Michigan economy; U of M graduates mostly do not. More in-state students attend Michigan State; less in-state students attend U of M. There is something severely wrong here. </p>
<p>I am currently working with a member of the Michigan house to introduce a bill that would revise higher education funding.</p>
<p>get out of here with this crap. Michigan does not “receive” its endowment from the state. Do you even know what the hell an endowment is? You don’t “receive” an endowment, and the endowment does not come from the state, but from alumni and donors.</p>
<p>Second of all, IS students got more subsidy from the school than the state actually paid for on a per student basis, meaning IS tuition + State subsidy per student < OOS tuition.</p>
<p>I would love to see Michigan privatize and stop giving freebies to the whiny state politicians. Pay up or shut up.</p>
<p>You’re so wrong it’s hilarious. Bearcatz, I know your mom and dad covered your expenses your entire life, but that isn’t the real world for some of us. </p>
<p>You can always detect a bigoted spoiled brat a mile away.</p>
<p>ehz, you are confusing endowment with state funding. Endowment are assets that belong to the university, raised over time by alums, private donations and university investments. The endowment belongs entirely to the University. Michigan’s endowment of $6.7 billion is its own to do with as it pleases.</p>
<p>“I am currently working with a member of the Michigan house to introduce a bill that would revise higher education funding.”</p>
<p>This is scary. You don’t have the slightest clue what an endowment is and you want to help revise higher education funding? Please tell me the name of the Michigan house member, so I can warn others…</p>
<p>Someone’s always unhappy. Here you-all in Michigan have a flagship university that is the envy of the nation, that brings pride and prestige to the state by providing a word-class education – and the OP is upset. There’s a background story here, for sure, and I’d like to know what it is. By the way, students matriculate at a school, not an economy, and I don’t know who would characterize an endowment balance as “exuberantly” high. Rather than trying to baffle us with…rhetoric, OP, how about letting us in on the basis of your gripe?</p>
<p>Actually, bc and rjk, it would not surprise me in the least if this ignorant, short-sighted and economically-under-informed poster WERE a member of Michigan legislature Just sayin’!</p>
<p>Clearly ehz, ■■■■■ or not, has absolutely no clue what he’s talking about. For one, you can’t just cut endowment in half because it’s DONATIONS! And I can’t believe he hasn’t been throughly destroyed for the “change the name of the school” comment. Get over yourself and go back to East Lansing.</p>
<p>It doesn’t matter whether or not the OP is an idiot. What matters is that some kid may stumble upon this thread and take the OP seriously. Good job to everyone.</p>
<p>While the OP appears not to understand how the endowment works, there is some sentiment in the right wing for Lansing to defund U-M and in effect privatize the university. While the OOS crowd may cheer for equality of tuition, the loss of state support would be a major blow to Michigan residents who have the opportunity to send their children to an elite university at a subsidized tuition. While this is not likely to occur, comments like those posted by the OP are why a deaf hear should not be given to this.</p>
<p><em>rolls eyes</em> ehz- you’re the one who came on here criticizing the university in the first place with an obviously grossly misinformed opinion straight outta East Lansing. I don’t know why you commented here in the first place, where you intend to go with whatever you are trying to push in congress (hint: it’s not going anywhere), or how you could have expected any other sort of response to your thread.</p>
Just sayin’!</p>