Minnesota State weighs plan to transfer money from two-year colleges to help struggling universities
The plan would give St. Cloud State and Bemidji State $14.8 million while two-year colleges would provide most of the money.
- On Wednesday, the Minnesota State Board of Trustees will vote on a proposal to reallocate up to $25 million annually from two-year colleges to financially struggling universities over four years.
- System officials described the proposal as a "stopgap" to address a $31.5 million systemwide deficit that, if left unaddressed, is projected to more than triple by summer 2028 across 26 colleges and seven universities.
- If approved, the system would distribute $10 million to St. Cloud State University and $4.8 million to Bemidji State University, while two-year colleges would contribute about three times as much money as four-year universities.
- Rose Sargent, treasurer for the student organization LeadMN, called the proposal a "temporary funding bandage" in June, arguing that reallocating resources away from colleges will not solve underlying financial challenges.
- Bill Maki, the system's vice chancellor for facilities and finance, acknowledged the plan is "somewhat unprecedented," as officials continue weighing campus closures and mergers to address broader budgetary pressures.
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Duluth News Tribune
Minnesota State weighing plan to transfer money from 2-year colleges to shore up struggling universities
St. Cloud State University and Bemidji State University would together receive about $15 million.
Minnesota State considers shifting funding from 2-year colleges to support struggling universities
Up to $15 million each year would go to two schools, St. Cloud State University and Bemidji State University, which have faced enrollment declines and budget deficits.
Minnesota State weighs plan to transfer money from two-year colleges to help struggling universities – WTOP News
Minnesota State is considering a plan to shift millions of dollars from its colleges to help two financially unstable universities – a move college presidents, students and employees condemned as the school system considers longer-term fixes to a growing financial crisis. The proposal, headed to the Board of Trustees for a final vote on Oct....
Associated Press News
Minnesota State weighs plan to transfer money from two-year colleges to help struggling universities
Minnesota State is considering a plan to shift millions of dollars from its colleges to help two financially unstable universities – a move college presidents, students and employees condemned as the school system considers longer-term fixes to a growing financial crisis.
Minnesota State weighing plan to transfer money from two-year colleges to shore up struggling universities
Officials call it a 'stopgap' measure that should help as they address a $31.5 million systemwide deficit. An internal report warned 10 years ago that Minnesota State could face multimillion dollar budget holes.
Minnesota State Weighs Plan To Transfer Money From 2-Year Colleges To Help Struggling Universities
https://youtu.be/0M0EjsjUcTY By CLEO KREJCI/MinnPost Minnesota State is considering a plan to shift millions of dollars from its colleges to help two financially unstable universities – a move college presidents, students and employees condemned as the school system considers longer-term fixes to a growing financial crisis. The proposal, headed to the…
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