Michigan is on the back half of a huge spending spree on facilities. Despite this I found a report that indicates the athletic department had a profit of $26.6 million in 2010-2011. At this point the athletic department appears to by finding anything they can upgrade to make use of the money. I would have less problem with this money grab if we were using it to fund the main mission of the institution which I think is still supposed to be educating people.
So what could you get for $26 million?
- You could cut everyone’s tuition by $608 or around 4%
- You could pay the tuition of 1,799 students (4.2 percent of the student population)
- You could provide a full ride scholarship to 946 students
- If you used the money for a scholarship fund (earning 6%) you could provide tuition only scholarships to 108 students or full rides to 57 students for the foreseeable future