<p>Universities are like people I suppose. The poor expect the rich to apologize for being “privileged” and are labled “snobs” regardless. </p>
<p>But one thing is clear, the University of Michigan’s endowment has been raised entirely by alumni and private group donations and has been developped over the years by sound investment by the University’s endowment and venture capital offices. The state has nothing to do with the U’s endowment and does not have a say in how the U uses is incredible wealth. </p>
<p>I must say, it is A-MAIZE-ING being that rich…and getting richer. Michigan was not among the 25 wealthiest universities 20 years ago. Today, it is the 6th welathiest university in the nation. In the next 20 years, it should be third or fourth.</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.”</p>
<p>It’s a haven for the rich elite from the east?
I guess I’ll have to tell my friends. Apparently 250k is not rich according to teabaggers, but 80k a year is “rich elite.” And I guess the 40 kids who got in this year all suddenly moved from Michigan to the East Coast.</p>
<p>MLD-What? You want it to go private? The fact that it is public is one of the reason’s it’s such a great university. I’m OOS and I wouldn’t want it to go private. It would do nothing but harm to the university.</p>
<p>I agree eziamm. I personally went to Michigan partly because it was public. I think Michigan needs to reduce the percentage of in-state students from 65% to 25%, but it should remain public. With a 75/25 OOS/IS ratio, Michigan will have a tuition structure that will allow it to contract from 26,000 undergraduate students to 20,000 undergraduate students while meeting 100% of demonstated need for all students, regardless of residency or nationality.</p>
Not to mention the revenues generated for the state. The 2010 Empowering Michigan report shows URC (University Research Corridor) partners Michigan State University, the University of Michigan and Wayne State University:</p>
<p>"“The URC has been a bright spot in the states economic picture, even in the teeth of the recession. Michigan has the third fastest research and development growth rate among competitive innovation clusters,” said URC Executive Director Jeff Mason. "Just as importantly, were getting stronger relative to the competition, which puts us in a good position to help propel the states economic growth in the future.
…</p>
<p>Serving all of Michigan. Enlarged its economic impact on Michigan from $12.9 billion in 2006 to $14.8 billion in 2009. There were over 550,000 URC alumni living in Michigan, making up 7.2 percent of Michigan’s adult population. Together, they earned $26 billion in 2009.</p>
<p>Returning revenue. Generated $401 million in 2009 state tax revenue (up $50 million from 2006) even as state support for higher education declined). That figure is close to half the amount of the total state appropriations of $888 million the state appropriated to the three research universities that year.
…
U-M President Mary Sue Coleman added, A recent headline from the San Francisco Business Times really said it all, Californias Innovation Model Michigan? For four years, weve worked to change attitudes about the impact of innovation on whole regions and the evidence shows the word is getting out."</p>
<p>Ahhhh come on MLDWoody, this is one of the funniest threads in a while. ;)</p>
<p>Let’s see, Sparty, sorry, ehz670 comes onto the Michigan forum wants to change the name of the school and accuses the student body of being east coast elitist but we’re the arrogant jerks! Priceless.</p>
<p>Not only that but the Sparty, err ehz670, doesn’t know the difference between an appropriation and an endowment, mixes up exorbitant with exuberant, and can’t grasp the basic truth behind how higher OOS tuition subsidizes lower costs for in-state students.</p>
<p>Look on the bright side Sparty, whether you’re a Democrat, Republican or Teabagger, with your overblown rhetoric, inability to present factual information and complete lack of Economic knowledge you have a promising career in politics or TV/Radio punditry. Let me suggest that you actually read your textbooks instead of just coloring in the "O"s.</p>
<p>im a michigan state fan who lives on the east coast in a nicer area, applied to and got into michigan, but my top choice is ohio state. let the hatred storm rain down.</p>
<p>Yeah, OSU and MSU are very good universities. OSU is actually one of those schools that is making big strides as we speak. If one fits in better at those two universities, chosing them over Michigan is not such a bad thing, although there are advantages to attending Michigan that some students should be aware of. For example, certain types of companies recruit far more at Michigan and when it comes to law school placement in particular, Michigan students do seem to have a marked advantage. Finally, Michigan’s reputation nationally is significantly better than OSU’s or MSU’s.</p>
<p>This said, for most students, reputation is not such a big deal and assuming they do not wish to work in niche industries such as investment banking or consulting, or assuming they are not pre-law, I do not see anything wrong with choosing OSU or MSU over Michigan.</p>
<p>when you really look at how U of M operates, you’ll realize that most (80% to 90%) of the fundings come from private sources and NOT government. In theory, that would make U of M more of a private institution. </p>
<p>However, it would not be a good idea to privatize Michigan. I’d much rather see Michigan being a first-rate public than a third-rate Harvard.</p>
<p>gobluecpa, even now, Michigan is not a third rate Harvard. It is a second rate Harvard, but then again, so are most top 20 private universities. </p>
<p>But I agree that I like Michigan to stat public.</p>