Help Us Keep Reporting. Donate to Detroit Metro Times.

Wednesday, May 16, 2018

Report: MSU will pay at least $500 million to Nassar victims

Posted By on Wed, May 16, 2018 at 11:53 AM

Michigan State University has reached a $500 million settlement with hundreds of young women abused by Larry Nassar, media outlets report.

The settlement was announced Wednesday by the California law firm representing the survivors. It came after two days of talks between lawyers for the school and lawyers for the survivors.

Of the $500 million, $425 million will be paid now and another $75 million will be held in reserve in case additional unknown victims come forward, media outlets report.

Interim MSU president John Engler has previously said that tuition and state aid would help cover the settlement, though state lawmakers have not agreed to helping out the school in such a way.

According to the Detroit Free Press, MSU brought in $859 million in tuition revenue in the '16-'17 school year, about a third of its total revenue of nearly $3 billion. The paper reports that the school also has about $1 billion in debt. An S&P analyst told the paper that MSU is in good financial shape and could probably add debt if it needed to.

Stay on top of Detroit news and views. Sign up for our weekly issue newsletter delivered each Wednesday.

Tags: , , ,

Detroit Metro Times works for you, and your support is essential.

Our small but mighty local team works tirelessly to bring you high-quality, uncensored news and cultural coverage of Detroit and beyond.

Unlike many newspapers, ours is free – and we'd like to keep it that way, because we believe, now more than ever, everyone deserves access to accurate, independent coverage of their community.

Whether it's a one-time acknowledgement of this article or an ongoing pledge, your support helps keep Detroit's true free press free.

Read the Digital Print Issue

May 27, 2020

View more issues


Never miss a beat

Sign Up Now

Subscribe now to get the latest news delivered right to your inbox.

Best Things to Do In Detroit

© 2020 Detroit Metro Times - Contact Us

Website powered by Foundation