EAST LANSING, Mich. (WLNS) — Michigan state university is coping with a 54-million dollar budget loss.
MSU president Samuel Stanley made the announcement earlier this week. he says this is due to a decline in student enrollment after the covid-19 pandemic.
he added that this will have at least a four-year impact on the university’s budget and it’s because this smaller class will be making their way toward graduation during this time. compared to last year there about 900 fewer students.
Stanley said he plans to meet with the MSU board of trustees in the next few weeks. Trustee Dianne Byrum said she’s positive m-s-u will get through this.
“We just ranked as one of the best values in higher education. We still have outstanding faculty delivering great programs and so we will come out this, but we’re not come out of it without a few bumps and bruises and we’re gonna have to be very careful managers of our budget,” said Byrum.
some ways the university has already tried to cut costs is by furloughing hundreds of union employees and student employees and they’ve made wage reductions for faculty and staff.