Concluding its retreat on Michigan State University’s Grand Rapids, Michigan campus, the MSU Board of Trustees today approved the university’s fiscal year 2023-24 budget presented by the administration, which invests the largest sum of financial aid in university history.

The approved budget totals $3.3 billion.

“This budget is significant in a number of ways – we are investing more in financial aid, more in safety and security of our campus, and more in the world-class faculty and staff who transform the lives of our students,” said Board Chair Rema Vassar, Ph.D. “Through the leadership of the board and the administration, we are carrying forward the priorities of our strategic plan to create a safer, healthier, and more affordable university.”

Over the past decade, MSU has invested heavily in student financial aid, increasing funding to expand access by 105%, or five times the resident undergraduate tuition rate increase during that same time. As part of the approved budget, MSU is investing an unprecedented $224 million in student financial aid – a $16.4 million increase over last year.

For most lower-income students and families, the additional aid offsets the 3% increase in undergraduate tuition for the next academic year that trustees approved in June 2021. Students from households with an annual income of less than $75,000 will see no out-of-pocket increase in tuition spending.

“Year after year, MSU continues to make significant investments in financial aid programs to better support our students and widen the access to a world-class Michigan State education,” said Interim President Teresa K. Woodruff, Ph.D.

The approved budget also includes a separate 3% tuition adjustment for most resident and nonresident graduate students for the next academic year. 

In addition to increased financial aid spending, the budget includes $8 million in new investments in campus safety initiatives; student, faculty and staff health and well-being; and the Title IX office. Additionally, MSU is increasing its spending on faculty and staff compensation, in alignment with its strategic plan priorities for faculty and staff success.

Before concluding the meeting, trustees also solidified their commitment to student success by authorizing the development of a new student recreation and wellness center.

In December 2021, the board authorized the university to begin planning for a new health and wellness center, aligning its actions with the commitments set forward in the university’s 2030 strategic theme of sustainable health and student success. The new center, which will be located on Shaw Lane, between Birch and Harrison roads, will replace IM West once it is fully completed.

The facility also ensures MSU meets and exceeds national intramural facility standards.

"This new top-tier intramural facility marks a significant stride in enhancing student success by promoting active lifestyles and fostering a sense of belonging," said Senior Vice President for Student Life and Engagement Vennie Gore. "Supporting students' health and well-being ensures they have the tools to flourish academically, personally and socially, paving the way for a more fulfilling experience on campus and beyond."

The new 293,000-square-foot recreation center will replace the Intramural Recreational Sports West building with a modern structure and facilities that address student recreation and fitness needs with an eye toward future development. It will include several gymnasiums and multiactivity courts; a turf arena; an indoor running track; strength and fitness studios; racket sport courts; two university classrooms; and locker and toilet rooms to meet gender-inclusive needs; and a 50-meter recreational pool to support simultaneous uses, including courses, water fitness and open swim.

Construction will commence in July, with substantial completion expected in February 2026.