budget and planning overview 1 michigan state u n i v e r s i t y

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Budget and Planning Overview

MICHIGAN STATEU N I V E R S I T Y

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Bolder by Design

Financial Framework

Budget

While maintaining credit rating and debt capacity; sufficient working capital and liquidity; investment performance and endowment; comparability to peer financial composition and performance

Context

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Budget Planning – Pro forma

Preliminary 2014-15 budget approved by the BOT in June 2013 *Includes 1.5% general merit, 0.5% college market, and 0.5% provost market pool** Includes 1.5% general merit, 0.75% college market, and 0.5% provost market pool ***Infrastructure financing


Budget Item2013-14 Final BOT

Approved

2014-15Preliminary BOT

Approved Comment/Update

State Appropriations 1.82% 2.0% Monitoring additional support/tuition caps

Tuition & Fees 1.9% Lower Div3.6% Upper Div

3.0% Lower Div3.0% Upper Div

Appropriation/tuition caps, alternate structures

Financial Aid 4.5% 4.0% As planned

Graduate Assistants 2.0% 2.0% As planned

Faculty Salaries 2.25%* 2.0%** Big Ten trending higher/Evaluation of additional allocation

Utilities 4.0% 4.0%*** Monitor natural gas market

Health Care 1.5% 5.0% Reviewing necessary increment

Academic Competitiveness $2.0 $2.0 Under Review

Balance $0 $0

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MSU Revenues:MSU planning requires $17M from two sources


0% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00%0% $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20

0.50% $1 $3 $5 $7 $9 $11 $13 $15 $17 $19 $211.00% $3 $4 $6 $8 $10 $12 $14 $16 $18 $20 $221.50% $4 $6 $8 $10 $12 $14 $16 $18 $20 $22 $242.00% $5 $7 $9 $11 $13 $15 $17 $19 $21 $23 $252.50% $6 $8 $10 $12 $14 $16 $18 $20 $22 $24 $263.00% $8 $9 $11 $13 $15 $17 $19 $21 $23 $25 $273.50% $9 $11 $13 $15 $17 $19 $21 $23 $25 $27 $294.00% $10 $12 $14 $16 $18 $20 $22 $24 $26 $28 $304.50% $11 $13 $15 $17 $19 $21 $23 $25 $27 $29 $315.00% $13 $14 $16 $18 $20 $22 $24 $26 $28 $30 $325.50% $14 $16 $18 $20 $22 $24 $26 $28 $30 $32 $346.00% $15 $17 $19 $21 $23 $25 $27 $29 $31 $33 $356.50% $16 $18 $20 $22 $24 $26 $28 $30 $32 $34 $367.00% $18 $19 $21 $23 $25 $27 $29 $31 $33 $35 $377.50% $19 $21 $23 $25 $27 $29 $31 $33 $35 $37 $398.00% $20 $22 $24 $26 $28 $30 $32 $34 $36 $38 $40

Resident Undergraudate Tuition and Fees: 1% = $3.95M

State Appropriations: 1% = $2.5M

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1% Planning ParametersRevenue Varaibles

Appropriations $2.5M

TuitionResident Undergraduate $4.0M

Domestic Non-Resident $0.9M

International $1.1M

Grad/Professional $2.0M

Other Revenue $0.92M

Expense Variables

Financial Aid $1.2M

Faculty Salaries $3.4M ($2.8M)

Graduate Assistants $0.4M

Coalition Salaries $2.2M

Health Care $0.8M

Other Benefits $1.0M

Utilities $0.6M

Supplies and Service $1.0M

University Operations $0.9M

Long-Term Financial FrameworkGap Analysis to Inform Long-Range Planning

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Update ten-year analysis of critical university areas requiring long-term support

Category Goal/Comment

Academic Competitiveness Advance top 100 status

Computing Academic, student needs

Research Advance top 100 status

Critical Space Updated classroom and laboratory space

JIT Maintain existing space in usable condition

Power and Utilities Expand supply, meet energy transition goals

Health Care Monitor ACA impact, bargaining agreements

Financial Aid Fill $20M donor income gap to peers

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Budget Planning – Pro forma

Preliminary 2014-15 budget approved by the BOT in June 2013 *Includes 1.5% general merit, 0.5% college market, and 0.5% provost market pool** Includes 1.5% general merit, 0.75% college market, and 0.5% provost market pool ***Infrastructure financing


Budget Item2013-14 Final

BOT Approved

2014-15Preliminary BOT

Approved2015-16

Planning Update Comment/Update

State Appropriations 1.82% 2% 2.0%

Tuition & Fees 1.9% Lower Div3.6% Upper Div



Financial Aid 4.5% 4.0% 4.0%

Graduate Assistants 2.0% 2.0% 2.0%

Faculty Salaries 2.25%* 2.0%** 2.0%** Big Ten trending higher/Evaluation of additional allocation

Utilities 4.0% 4.0%*** 4.0%***

Health Care 1.5% 5.0% 5.0%

Academic Competitiveness $2.0 $2.0 $2.0 Under review

Balance $0 $0 $0

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Financial Health


Multi-Year Perspective• MSU has managed through the most difficult decade of economic

circumstances in its recent history

• Despite Michigan fiscal circumstances being more severe than in surrounding states, MSU financial indicators approximate the Big Ten median

• Reflective of prudent financial policies, a focus on cost-containment, and efficient operations

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• Federal fiscal policy suggests continued pressure to reduce “discretionary” spending including research activities and possibly financial aid, next Sequester deadline is January 15, 2014 with an estimated $20B impact

• In addition to the above, possible Medicare – Medicaid reimbursements including support for graduate medical education at risk

• Federal Affordability of Care Act initiates most significant health care changes in decades, potentially increasing baseline health care costs beginning in FY15

• Economy improving at state level, full spring back not anticipated

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Economic Trends

• MSU’s Aa1 long term credit rating reflects its overall financial strength

• Current external debt approximates $860M which includes $256M for Residential and Hospitality Services and $56M for Athletics

• An additional $169M in short-term commercial paper to be repaid by internal units

• Other obligations include: Internal loans of $20.5M, Federal student loans of $38M, and current leases totaling $44.3M

• Ongoing need to prioritize debt funded projects, manage debt capacity, debt service availability, and ratings optimization … additional debt capacity of $300M to $500M available within current rating, additional capacity at lesser ratings

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MSU Credit Rating and Debt

• Currently exceeds targeted liquidity level of $284 million

• Liquidity risk may exist if significant deviations from planned state or federal allocations occur

• External line of credit established to optimize longer-term investment strategy

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Sufficient Working Capital & Liquidity

• Over ten years, MSU investment performance ranks in the 16th percentile versus national peers, most recent year performance at 12.1 percent ranks in the top third

• Annual giving low in Big Ten but improving, donor based financial aid is lowest in Big Ten, lags median by $20 million

• Endowment growth (includes return and annual giving) ranks 6th in Big Ten, total endowment is noted at $1 Billion, and includes the Foundation at $327M

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Investment Performance & Endowment Status

• Combined tuition & fees and appropriations per student over $1,700 less than Big Ten median, representing over $75M in annual revenue

• Contracts and grants received in immediate past year at $478 million (reflects impact of Sequester), up 27 percent over 5 years

• FY12 research expenditures up $53M over previous year, at 11.6 percent reflects the largest institutional increase across the Big Ten

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Peer Financials

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Revenues


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Tuition & Fees; 134;

18%

Appropria-tions;

205.9; 28%

AgBio Research/MSUE; 38; 5%

Sponsored Programs; 137; 19%

Gifts ; 44; 6%

Other; 13.5; 2%

Departmen-tal; 40.4;

6%

Auxiliary; 121; 16%

University Revenues

Tuition & Fees; 697.3; 30%

Appro-priations; 245.03;

11%

AgBio Re-

search/MSUE;

54.2; 2%

Sponsored Programs; 433.8; 19%Gifts ; 214.9; 9%

Other; 157.7; 7%

Depart-mental;

178.9; 8%

Auxiliary; 305.3; 13%

2012-13 All Funds Revenue - $2.3B

Proportion of RevenueTuition – 31%Sponsored Program – 19%Auxiliary – 13%Appropriations – 11%Gifts – 9%

1989-1990 All Funds Revenue - $734M

Proportion of RevenueAppropriations – 28%Sponsored Program – 19%Tuition– 18%Auxiliary – 16%Gifts – 6%


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State of the State• Manufacturing job growth leads all states

• Added 221,00 private-sector jobs over 3 years

• Per capita income growth tied first in Great Lakes states

• Out migration trend halted, population up for first time since 2003-04

• Make Michigan a leader in STEM fields


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• There remains a negative view of universities in parts of the legislature – assumption that our costs are out of control (Progress evident but not over)

• Continuing push on transferability of credits

• Continued efforts to micromanage several aspects of University activity – including benefits for same-sex couples, stem cell research and faculty bias

• However, we are starting to see some recognition of the role the State has had in raising the costs of education

State Issues


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Appropriation Trends• Appropriations down 15% over last decade

• State appropriations approximate 20% of general fund budget

• Recent cycles have yielded modest increases ~1-2%

• Future year increases anticipated given consistent funding model formulations and state economic performance

• Current state economic indicators anticipate a 2.9% increase to GF/GP in 2014 and 4.4% in fiscal 2015


03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14200,000,000

220,000,000

240,000,000

260,000,000

280,000,000

300,000,000

320,000,000

340,000,000

360,000,000

380,000,000

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Appropriations History

Appropriations down $44M over 10 years

If increased at inflation, MSU appropriations would be $120M

more than current levels


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Performance Funding Model• Continuation of Business Leaders for Michigan metrics and scaling

• Undergraduate critical skills degrees• R&D Expenditures• Graduation rate

• Continuation of tuition restraint provisions for resident undergraduate students, particularly in the context of incremental state support

• Need to address variance in per FTE funding among State’s research universities

• Institutional Support as % of Core Expenses

• Total undergrad FYES (scaling)


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• State financially is recovering

• $900 Million Surplus• Big push for tax cut• Transportation $1 b shortfall• DCH $200 M shortfall• County winter budgets exhausted (salt, plows)• State pension liability growing

• Base funding for University expected to be >3% - but how much won’t be known until Feb.

• Opportunities for initiative funding – Engineering Capacity, Autism, Ag Processing/Workforce

State Outlook


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Accelerating Growth for Michigan Food and Agriculture

MSU Food Processing and Innovation Center (FPIC)• Space for high-growth companies to innovate, scale up and market new products/processes• State of the art USDA/FDA facility permits product and process development and finished products• Flexible production capabilities• Surveyed high-growth firms show interest in facility

Food Processing Workforce Development Program• Partner with community colleges to establish 2-year training programs• Revitalization of fruit and vegetable lab

Detroit Initiative for Advanced Food Processing and Export • Phase I – Develop advanced-processing-and-export plan while strengthening existing city capacity• Phase II- Implement and create state-of-art processing center


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Accelerating Growth for Michigan Food and Agriculture

Summary of Investments Total Capital

Costs Leverage

One-time State Appropriation

Recurring Operating Request

FPIC (business plan & feasibility study complete)

$5.25 million EDA $2.5 million $2.75 million -----*

Workforce Program

(plan complete) $3.0 million $3.0 million $550,000

Detroit Initiative

Phase I Phase II (first estimate)

$2.0 million

$15.0 million

Private investors

$2.0 million

-----

$500,000

-----*

Total $25.25 million $7.75 million $1,050,000


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Appropriation: “What if” Analysis

• Pro-forma FY15 MSU Budget projected a $17M revenue increase from a combination of Appropriations at 2% ($2.5M X 2) and Resident Undergrad Tuition at 3% ($4M X 3)

Alternatives

• A 5% appropriation increase and tuition capped at 1% balances the proposal• Caps at 2% and 3% would provide additional resources of $4M and $8M,

respectively

• A 4% appropriation increase and tuition capped at 1.75% balances the proposal.• Caps at 2% and 3% would provide additional resources of $1M and $5M

respectively


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Tuition and Fee Considerations• Constrained ability to increase tuition and fee rates

• Public sensitivity to non-resident student mix

• Peer standing across dimensions• Resident/NR tuition rates• Residency mix • Structure


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Alternate Tuition Approaches


Improve existing incentives for accelerating time to degree

Accommodate increasing numbers of advance placement credit and student desire to affiliate with a major sooner in academic career

Maintain economic opportunity for students to attain degrees in college of choice

Increase comparability of tuition and fee structure with peer institutions

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Alternative Tuition Structure by Core vs Professional and Other


Music

NursingEngineeri

ng

Education

Business

Agriculture

Vet MedHuman

MedOsteo Med

Core college model; includes “admit when ready” modification

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Appropriation Tuition Total Rank Appropriation Tuition Total Rank

Michigan State University $5,392 $17,363 $22,755 3 $6,522 $13,904 $20,426 4University of Michigan Ann Arbor $6,265 $26,705 $32,969 1 $11,185 $16,074 $27,258 1Wayne State University $7,871 $13,983 $21,853 4 $8,778 $13,016 $21,794 3

Michigan Tech. University $6,939 $17,514 $24,453 2 $8,765 $14,553 $23,318 2Western Michigan University $4,552 $12,069 $16,621 6 $5,087 $11,077 $16,164 6

Central Michigan University $3,289 $11,359 $14,648 12 $3,342 $10,959 $14,301 12Oakland University $2,693 $12,508 $15,201 9 $2,751 $12,227 $14,978 9

Eastern Michigan University $3,621 $11,286 $14,907 10 $3,862 $10,211 $14,073 14Ferris State University $3,625 $11,826 $15,452 8 $3,931 $11,696 $15,627 8Grand Valley State University $2,489 $11,810 $14,299 14 $2,643 $11,546 $14,189 13Saginaw Valley State University $2,843 $9,599 $12,442 15 $3,058 $8,666 $11,724 15University of Michigan Dearborn $3,325 $14,072 $17,398 5 $3,584 $12,962 $16,546 5University of Michigan Flint $2,889 $11,956 $14,845 11 $3,134 $11,196 $14,330 11

Northern Michigan University $4,948 $9,564 $14,512 13 $5,991 $8,813 $14,803 10

Lake Superior State University $5,383 $10,396 $15,778 7 $5,626 $10,199 $15,826 7

Revenue per Student Revenue per Resident Student

Michigan Resources per Student


Universi

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Universi

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Ohio State Unive

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Universi

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Michigan State U

niversi

ty0%

10%

20%

30%

40%

50%

60%

Big Ten Avg. 36%

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*

Estimated Big Ten Non-Resident Undergraduate Enrollment %

Fall 2012


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2012 Federal Budget Sources and Uses

Borrowing; 1033; 28%

Other Taxes

(excise, gas, es-

tate, etc); 218; 6%

Social In-sturance and Re-

tirement (Payroll Taxes);

914; 25%

Corporate Taxes; 333; 9%

Income Taxes; 1196; 32%

Net In-ter-est; 242; 7%

De-fense Dis-cre-

tionary;

647; 17%

[Defense R&D]; 83; 2%

Nondefense Discretionary; 542; 15%

[Nondefense R&D]; 69; 2%

Social Secuity; 761; 20%Medicare; 485; 13%

Medicaid; 269; 7%

Other Mandatory; 625; 17%

Total Federal Budget Sources: $3.7T Total Federal Budget Uses: $3.7T

Source: American Association for the Advancement of Science


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• FY14 Omnibus Appropriations legislation for entire federal government passed the House of Representatives by a vote of 359-67 on January 15.

• Senate passed the Omnibus on January 16 by a vote of 72-26.

• Omnibus funds all federal agencies, such as USDA and the National Science Foundation, through the end of September 2014.

• Some relief from sequestration provided for FY14 and FY15 in the 2013 Bipartisan Agreement Act

• Sequestration cap lifted by $63 billion ($45 billion in FY14 and $18 billion in FY15).• Sequestration Cuts remain in place from FY16 to FY20.

Status Update


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Federal Discretionary Spending


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Agency FY12 Appropriatio

n

Adjusted FY12

Appropriation(Inflated to FY14)

FINAL FY14 APPROPRIATION

Difference: FY14 to Adjusted

FY12

National Science Foundation

$7.03 B $7.46 B $7.2 B -$0.26 B

USDA

Hatch Act $236 m $250.4 m $243.7 m -$6.7 m Smith Lever $294 m $311.9 m $300 m -$11.9 m Ag & Food Research Institute

$265 m $281.1 $316 $35.9 m

Federal Budget Request: Research


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AgencyFY12

Appropriation

Adjusted FY12

Appropriation(Inflated to FY14)

FINAL FY14

APPROPRIATIONDifference:

FY14 to Adjusted FY12

NIH $30.7 B $32.6 B $29.9 -$2.7 B

DOD Basic Research $2.11 B $2.2 B $2.17 B -$0.03 B

Energy Office of Science ARPA-E

$4.87 B$275 m

$5.17 B$291.7 m

$5.07B$280 m

-$0.10 B-11.7 m

EducationInstitute of Education Sciences

$593.7 m $629.9 m $576.9 m -$53 m

Federal Budget Request: Research


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FRIB


Federal budget includes $55 Million for FRIB

State of Michigan Strategic Fund to induce FRIB bonds for $91M on

February 25

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Funded at last year’s level of $22.8 billion.

Increased mandatory spending will bump up the maximum award next year by $85 to $5,730.

Number of recipients is expected to increase from 9.1 million to 9.3 million.

Pell Grants


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Department of Education

• Graduate Assistance in Areas of National Need (GAANN) and Javits Fellowship funded $29.3 million – the same level as last year.

NSF

• EHR/Division of Graduate Education - $846 million ($13 million more than FY13)

• EHR/Alliances for Graduate Education - $7.84 million (the same as last year)

Graduate Programs


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Department of Education

• Graduate Assistance in Areas of National Need (GAANN) and Javits Fellowship funded $29.3 million – the same level as last year.

NSF

• EHR/Division of Graduate Education - $846 million ($13 million more than FY13)

• EHR/Alliances for Graduate Education - $7.84 million (the same as last year)

Next Steps


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Expenses


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Expense Considerations• Financial Aid – Federal budget funding of high-need students, distribution of family

income, appropriate discounting

• Faculty salaries – Peer monitoring salary/compensation; Big Ten ranging upward

• Coalition salaries – Per contract

• Health Care – ACA impact and planning, continuation of 5% cost cap

• Utilities – Continuation of energy transition plan, commodities monitoring

• Research – Federal budget impact on grants and contracts


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State; 18622567; 8%

Fed-eral;

172154612; 71%

MSU; 34021872; 14%

Private; 17963520; 7%

MSU; 146185777.17; 23%

Federal; 421619726; 67%

Private; 5422175

2; 9%

State; 3314970

; 1%

2001-02 Student Assistance - $242M

Total Student Assistance2012-13 Student Assistance - $625.3M

Over the last five years, MSU has increased financial aid by 50% over the last five years, more than 2 times the increase to resident undergraduate tuition rates


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2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-140.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

20.00%

Financial Aid Weighted Rev Change

Financial Aid Rates of Change and Tuition/Appropriation Rates of Change


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Family Income Distribution

Adjusted to 2013 dollars

$0-$9,999 $10,000-$19,999

$20,000-$29,999

$30,000-$39,999

$40,000-$49,999

$50,000-$59,999

$60,000-$69,999

$70,000-$79,999

$80,000-$89,999

$90,000-$99,999

$100,000-$109,999

$110,000-$119,999

$120,000-$129,999

$130,000-$139,999

$140,000-$149,999

$150,000-$159,999

$160,000-$169,999

$170,000-$179,999

$180,000-$189,999

$190,000-$199,999

0

200

400

600

800

1,000

1,200

1,400

1,600

2013Five Year Average

# of Families


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Significant Affordable Care Act Provisions

Element TimingMSU Implications

MSU CostsEmployee Relations

Cost Drivers: Shared responsibility fees, individual insurance mandate, expanded eligibility for MSU plans

FY15 Increased costs due to wider

eligibility

Est. $2.3M-$6.1M2%-5% annual

increase

Mitigate employee cost-sharing

Transitional Reinsurance Fee (Temporary levy on employer group health plans)

FY15 Assessed for FY15-FY16

$2.0M -$2.5M2%-2.5% increase

Fee ranges between $60-$100 per member


Excise tax on “Cadillac” plans 40% tax applied to plans valued above $10,200 (individual) and $27,500 (family)

FY19 MSU exposure a function of cost

increases

@6% annual growth, $175K

@8% growth, $1.6M


Other Notes: Other provisions include W-2 reporting, group health plan fees, preventative care additions, revised flex spending limits, auto enrollment, and employer access to state exchange. In total, anticipated cost increases of $0.3M to $0.4M are anticipated.


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$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$101,564

Big Ten Median $106,245*

*Median does not include Northwestern

2012-13 Big Ten Faculty Salaries


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$120,000

$140,000

$160,000

$180,000

$200,000

$135,344

2012-13 Big Ten Faculty Compensation




48

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$140,000

$160,000

$180,000

$200,000

$133,214

2012-13 Big Ten Faculty Compensation(Adjusted for post-retirement healthcare)




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A B C D Michigan State E F G H I0

5,000

10,000

15,000

20,000

25,000

$17,654

Big Ten Median $17,652

2011-12 Big Ten RA Compensation


50

A B C Michigan State D E F G H I$0

$5,000

$10,000

$15,000

$20,000

$25,000

$17,053

Big Ten Median $16,426

2011-12 Big Ten TA Compensation


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Background


52

Alternative Tuition Structure by Core vs Professional and Other


College Resident Heads % Total% Total Heads % Total %Arts & Letters 1,545 5.38% 1,695 4.84%CNS 3,977 13.84% 19.22% 4,520 12.91% 17.75%CSS 4,715 16.41% 35.63% 5,646 16.13% 33.88%UGE 741 2.58% 38.21% 873 2.49% 36.38%UOE 54 0.19% 38.39% 134 0.38% 36.76%Comm Arts & Sciences 2,587 9.00% 47.40% 3,124 8.92% 45.68%

JM 954 3.32% 50.72% 1,088 3.11% 48.79%LBC 1,633 5.68% 56.40% 1,728 4.94% 53.73%RCAH 214 0.74% 57.15% 231 0.66% 54.39%

Ag & Nat Resources 2,592 9.02% 2,916 8.33%Broad College of Business 3,965 13.80% 6,189 17.68%CVM 202 0.70% 224 0.64%Education 1,898 6.61% 2,116 6.04%Engineering 2,653 9.23% 3,418 9.76%Music 213 0.74% 282 0.81%Nursing 790 2.75% 822 2.35%

28,733 100% 35,005 100%

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MSU ranks 7th in the Big Ten for resident tuition and fees and 8th cost of attendance

Resident Tuition & Fees Resident Cost of Attendance

Big Ten Resident Tuition & Cost of Attendance

Northwestern University 45,527$ Penn State University 16,992$ University of Illinois 15,258$ University of Michigan 13,997$ University of Minnesota 13,618$ Rutgers University 13,465$ Michigan State University 12,863$ University of Wisconsin 10,609$ Indiana University 10,208$ Ohio State University 10,010$ Purdue University 9,900$ University of Maryland 9,161$ University of Iowa 8,061$ University of Nebraska 7,984$

Northwestern University $63,193Penn State University $33,580Rutgers University $29,770University of Illinois $29,594University of Michigan $27,095Ohio State University $25,452University of Minnesota $25,124Michigan State University $24,751University of Wisconsin $24,144Indiana University $23,832University of Maryland $23,733Purdue University $23,468University of Nebraska $21,700University of Iowa $20,691


54

MSU ranks 3rd in the Big Ten for non-resident tuition and fees and 3rd cost of attendance

Non-Resident Tuition & Fees Non-Resident Cost of Attendance

Big Ten Non-Resident Tuition & Cost of Attendance

Northwestern University 45,527$ University of Michigan 41,811$ Michigan State University 33,750$ Indiana University 32,350$ University of Illinois 29,640$ Penn State University 29,566$ Purdue University 28,702$ University of Maryland 28,347$ Rutgers University 27,184$ University of Iowa 26,931$ University of Wisconsin 26,863$ Ohio State University 25,726$ University of Nebraska 20,734$ University of Minnesota 19,868$

Northwestern University $63,193University of Michigan $54,909Michigan State University $46,292Penn State University $46,154Indiana University $45,974University of Illinois $43,976Rutgers University $43,490University of Maryland $42,919Purdue University $42,480Ohio State University $41,816University of Wisconsin $41,034University of Iowa $39,561University of Nebraska $34,450University of Minnesota $31,374


In addition, MSU international students are assessed a $500 per semester fee

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Student Debt


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Big Ten Resources per Student

State Tuition & Total

Appropriation Ranking Fees Ranking Approp & Tuition Ranking

Michigan $7,683 6 $24,956 1 $32,639 1

Minnesota $12,578 1 $16,286 4 $28,864 2

Indiana $6,213 9 $18,281 2 $24,494 3

Illinois $6,806 7 $17,271 3 $24,077 4Purdue $7,960 4 $15,918 5 $23,879 5Ohio State $7,954 5 $15,773 6 $23,727 6Iowa $8,699 3 $14,721 8 $23,420 7Michigan State $6,449 8 $15,132 7 $21,581 8Wisconsin $10,690 2 $10,741 9 $21,431 9Nebraska $5,066 10 $7,162 10 $12,228 10

Source: IPEDS 2010-11. Net of AES/CES component


budget and planning overview 1 michigan state u n i v e r s i t y

Documents

budget planning

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upper div financial

college market

v e r s i t y slide

v e r s i t y budget

provost market pool

context slide