The Economy’s Ripple Effect
On the banks of the Red Cedar, there’s a problem known to all: the economic recession. It’s continued to make news headlines throughout the country, taking different spins to bring relevance to its audience. But since Michigan State University caters to a diverse student-base, the audience is wide spread. Many staff and students have sincerely considered what recent economic events will mean for job opportunities, scholarships, and the future of academic departments.
President Obama’s recent efforts to jumpstart the economy, shows up in the stimulus package. The bill, proposing $790 billion dollars to spark an economic turnaround, is being considered by Congress. $6 billion of those dollars will go to MSU will receive most of this money through research grants.
Research funds soon to come
Janet Rohler, who works for the Vice President Office of Research and Graduate studies, expects that faculty will see a difference in their research funding, because of the stimulus package.
“The agencies, as I understand it, are just now working on their plans for how to distribute that money”, she said. Although new proposals will be taken into consideration, the timeline for the stimulus is short, giving little time for new proposals to be patched together. “The agencies will fund proposals that they have already reviewed and rated highly, but didn’t have money to fund,” Rohler speculated. Many students find themselves being either helped or hurt through these efforts, some remaining puzzeled on how their tuition will be paid.
The recent tuition freeze proposed by Gov. Jennifer Granholm in her State of the State address, leaves students with mixed feelings on how school payments will be paid in the future. This action, along with other cuts in the State budget, rests on receiving funds from the stimulus package, with hopes to draw more people to Michigan through multiple means.
FAFSA and Ford
Watch a Soundslides about GM scholarships and their effect on MSU students’ financial aid.
Val Meyers, the Associate Director in the Office of Financial Aid, finds that many more students are filing their Free Application for Federal Student Aid (FAFSA) than ever. The size of federal student loans have also decreased.
The Big Three automotive companies also effect MSU students, many of whom receive substantial scholarships through their parents employment. Sara Murawa, a mechanical engineering senior received $1,500 each year from General Motors, because of her father’s employment. As of January, all scholarships from GM have ceased, causing Murawa, and many like her to seek employment alongside her full time studies.
The continuous causality of America’s economic condition will likely be monitored by everyone. How it will pan out in the end, depends on both the choices of those in power and even the common spartan.
Click below to see a map showing all states that have or are considering a freeze of tuition…