A private university with a large state grant

There's no such thing as a state university anymore.

 Thanks, But No Thanks
It is a notable sign of the times: more college leaders are arguing that the traditional model of funding public higher education is dysfunctional, and advocates of a new way forward say they’ve reached this conclusion after frustrating years of legislative sessions that are typically defined by handwringing and disappointment. In his pitch to lawmakers, Lariviere says he’s often reduced to the same tired declaration: “We’re doing very important work for the future. We need more money to do it well. Please give us more money.”

“We’ve been doing that for 30 years, or at least I have been, and it really hasn’t pushed the envelope very far,” he says.

At the heart of Lariviere’s plan is a request that the state commit to its 2010 level of funding – about $65 million per year – for 30 years, using the funds to pay debt service on bonds worth approximately $800 million. The university would match the bonds with $800 million in private gifts to create a $1.6 billion “public/private” endowment, which would – along with the university’s current $435 million endowment and tuition revenues – sustain university operations within the first year, according to university officials’ estimates.


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