Your Scholarships, Their Future: By the Numbers
Your Scholarships, Their Future: By the NumbersJune 19, 2020
Income, Expenses and Endowments: How They Work Together
The university’s revenue—$2.87 billion last year—comes from several sources, with tuition and fees and grants and contracts being the top two. State appropriations accounted for just 12% of MSU’s revenue.
MSU draws on its revenues for instruction and research to keep facilities running and, among other things, to provide aid to students. For the 2019-2020 school year, Michigan State budgeted $164.9 million for financial aid for students.
To help the largest number of students, MSU cannot rely on tuition revenue alone.
During the Empower Extraordinary campaign, donors contributed $483 million for scholarships—enough money that if every dollar were immediately available and pooled in one place, it could be divided into 3,500 new scholarships of $5,000 each.
These scholarships are already having a tremendous effect on students, but there is more to be done, especially as the university and the world at large venture into uncharted territories during these unprecedented times. Privately funded scholarships will allow Michigan State to continue to take care of its own by directly addressing the needs of students as they arise.
You’ve seen the numbers, but what about the human side of a scholarship? We cover all of that, and more, in a five-part series on how philanthropy is essential to re-shaping the student experience, and leveling the playing field for all who seek an education.
- On the surface, a university looks like the “great equalizer,” the place where every student has equal access to a bright future, upward social mobility, “the dream.” But it is not actually level playing field. Learn about the work MSU is doing to smooth it out, and how, in some cases, scholarships are the answer.
- Mark Largent, associate provost for Undergraduate Education and dean of Undergraduate Studies, uses highways and overpasses as a metaphor for the kind of systemic inequities MSU is trying to eliminate.
- Donors and alumni Ann and Jeff Feld talk about their connection to Michigan State, and how creating scholarships has allowed them to strengthen their bond with their alma mater, build a lasting legacy, and “pay it forward.”
- Current MSU student Evan Griffis, STARR Scholarship recipient, talks about the path that led him to MSU, and how having his tuition and fees covered through the generosity of private donors is allowing him to pursue his passion to the fullest.
- Catch up with recent grad Carlot Dorve, who, thanks to scholarships, was able to earn a degree in trumpet performance in 2016 and go on to an international performing career. He’s in Missouri now, working toward a Ph.D. in music education.