Interview
Dear Mrs. Melanie Foster,
My name is Bryce Dearborn and I am currently a freshman in the WRA 101 class here at Michigan State University (MSU). This class has assigned our group their third project for the semester. The goal of this project is to develop a solution to a challenge that we have discussed about the University. The assigned project statement is; how can we (the University) make the overall cost of tuition less expensive to the students, both in-state and out-of-state? As an out-of-state student, and one who is impacted by the higher tuition bracket, this project is of special interest to me. Our group has brainstormed and come up with plenty of ideas. After a quick search regarding the board of trustees, it is my understanding that you are the head of the committee on budget and finance. I was wondering if there is any possible way that I would be able to get the financial and budget records from the last couple of years at MSU. I also value your opinion and thoughts on the tuition at Michigan State, especially in regards to our project statement. I understand that many items other than tuition impact the income into the school such as investments, endowments, state and government funding, etc. I also appreciate the challenges of effectively managing the budget, including cash flow, possible bonding, perhaps payment of interest and other commitments ultimately impacting cost to the student. If there is another appropriate individual or group that could provide input or guidance, could you please forward me their contact information? I am hoping to have this information available to me by this coming Monday, April 8. I would like to thank you in advance for your time and have a wonderful rest of the week.
Best Regards,
Bryce Dearborn
My name is Bryce Dearborn and I am currently a freshman in the WRA 101 class here at Michigan State University (MSU). This class has assigned our group their third project for the semester. The goal of this project is to develop a solution to a challenge that we have discussed about the University. The assigned project statement is; how can we (the University) make the overall cost of tuition less expensive to the students, both in-state and out-of-state? As an out-of-state student, and one who is impacted by the higher tuition bracket, this project is of special interest to me. Our group has brainstormed and come up with plenty of ideas. After a quick search regarding the board of trustees, it is my understanding that you are the head of the committee on budget and finance. I was wondering if there is any possible way that I would be able to get the financial and budget records from the last couple of years at MSU. I also value your opinion and thoughts on the tuition at Michigan State, especially in regards to our project statement. I understand that many items other than tuition impact the income into the school such as investments, endowments, state and government funding, etc. I also appreciate the challenges of effectively managing the budget, including cash flow, possible bonding, perhaps payment of interest and other commitments ultimately impacting cost to the student. If there is another appropriate individual or group that could provide input or guidance, could you please forward me their contact information? I am hoping to have this information available to me by this coming Monday, April 8. I would like to thank you in advance for your time and have a wonderful rest of the week.
Best Regards,
Bryce Dearborn
Dear Bryce,
Thank you for your e mail. I have been out of the country and am currently in an airport commuting to Minneapolis for the Final Four. Thank you for your interest in tuition cost containment. As you may be aware, under interim President Engler, a block tuition plan for the 2019-20 academic year will be instituted with the intent of encouraging students to graduate in four years. Under the plan, students can take anywhere from 12 to 18 credits at the same cost, as an incentive for students to take a full 15 or more credit load over their four years. If you spend time on the MSU website, you will find financial information concerning the university (budget, finance, endowment).
The university essentially has 3 sources of revenue, tuition, state appropriations (which account for approximately 13% of the university’s budget), and the endowment (which most funds are restricted). The vast majority of the budget is salaries- over 80%, which doesn’t allow a lot of leverage.
I would be happy to hear of your classes ideas concerning cost containment.
Best of luck with your project.
Melanie Foster
Co-Chair, Presidential Search Committee
Board of Trustees
Michigan State University
Thank you for your e mail. I have been out of the country and am currently in an airport commuting to Minneapolis for the Final Four. Thank you for your interest in tuition cost containment. As you may be aware, under interim President Engler, a block tuition plan for the 2019-20 academic year will be instituted with the intent of encouraging students to graduate in four years. Under the plan, students can take anywhere from 12 to 18 credits at the same cost, as an incentive for students to take a full 15 or more credit load over their four years. If you spend time on the MSU website, you will find financial information concerning the university (budget, finance, endowment).
The university essentially has 3 sources of revenue, tuition, state appropriations (which account for approximately 13% of the university’s budget), and the endowment (which most funds are restricted). The vast majority of the budget is salaries- over 80%, which doesn’t allow a lot of leverage.
I would be happy to hear of your classes ideas concerning cost containment.
Best of luck with your project.
Melanie Foster
Co-Chair, Presidential Search Committee
Board of Trustees
Michigan State University