best way forward with the goal 
of reducing this to as low a level 
as possible, if not zero.”

Schlissel also spoke about 

the recent ruling by the 6th U.S. 
Circuit Court of Appeals stating, 
in cases of sexual misconduct, 
universities 
must 
give 
the 

accused student or an attorney 
an opportunity to cross-examine 
the accuser in a hearing. Court 
filings obtained by the Detroit 
Free Press show the University 
argued 
for 
a 
third 
party 

mediator, but the extent to which 
misconduct investigations will 
change remains unclear. 

“(The 
University) 
is 
no 

longer contesting whether the 
investigative model they have 
used to date is sufficient, and 
understand 
that 
they 
must 

provide students in Title IX cases 
with a live hearing including 
cross-examination,” the filing 
reads. 

Schlissel 
expressed 
his 

concern about the ruling and 
stated the University is working 
to accommodate complainants 
as well as possible.

“We are concerned that a 

procedure that requires a person 
who is bringing a complaint to 
confront the person who they 
think is responsible for an act 
of misconduct may really have a 
very difficult effect on people’s 
willingness to step forward and 
seek help and bring a complaint,” 
Schlissel said. “So, we’re looking 
for ways that will allow us to 
satisfy the requirements of the 
court ruling, to allow some kind 
of hearing, but to do it in a way 
that is as sensitive as possible 
to all of the parties who are 
involved in the complaint.”

Schlissel 
stated 
the 

University is approaching the 
court to ask for clarification and 
find out if other proposed cross-
examination 
methods 
will 

legally fit with the ruling.

Investment Considerations
Last August, the University 

announced 
the 
University’s 

Board 
of 
Regents 
will 

consider 
moving 
investment 

decisions currently in the public 
board meetings to the investment 
offices after a recommendation 
from 
an 
independent 

review 
by 
accounting 
firm 

PricewaterhouseCoopers. 
According to Schlissel, this 
is only a suggestion that the 
board will consider, not an 
actual action item that will be 
implemented.

These suggestions come after 

months of reporting, originally 
published in the Detroit Free 
Press, claiming the University 
has invested up to $4 billion of its 
$11 billion endowment into the 
global properties of the largest 
University donors including real 
estate developer Stephen Ross, 
investor Sandy Robertson and 
businessman Sam Zell. The 
Free Press also reported Regent 
Andrea 
Fischer 
Newman 

(R) accepted campaign funds 
from 
donors 
who 
receive 

investments from the University. 
Schlissel 
and 
University 

statements have denied these 
claims.

In an effort to clarify the 

role of the Investment Advisory 
Committee, 
Schlissel 
said 

the committee would use its 
financial background to help 
the University make better 
investment decisions in the 
future.

“They’re largely alums … 

who are leaders in all different 
sectors 
of 
the 
investment 

work,” 
Schlissel 
said. 
“We 

discuss what we think future 
trends are in different types 
of 
investments. 
We 
don’t 

discuss specific investments … 
These are volunteers and the 
expertise they bring to the table 
is just enormously valuable, so 
we need to model our future 
budget and to do that, we 
need good predictions of how 
much money the endowment 
is going to earn and this group 
helps us think about what 
reasonable 
expectations 
are. 

It’s 
remarkable 
service 
by 

volunteer alumni basically.”

Currently, 
the 
board 

hears and approves specific 
investments in the monthly 
meetings and suggests regents 

be removed from voting due 
to conflicts of interest. In the 
proposed revision to meeting 
agenda, the board would vote on 
broad investment decisions and 
allow private committees to act 
on these recommendations and 
make investments themselves.

Schlissel 
said 
this 

change, 
proposed 
by 

PricewaterhouseCoopers 
and 

not guaranteed to be enacted, 
would bring the University up to 
speed with common investment 
practices at other institutions.

“(PricewaterhouseCoopers 

said) other universities like 
us, the boards of regents or the 
boards of trustees don’t vote 
on 
individual 
investments,” 

Schlissel said. “The level of 
professional expertise that it 
takes to figure out whether 
a particular investment is a 
good one is really complicated. 
We hire professionals in our 
investment office to do that 
so that was a suggestion made 
by the PWC people and we’ll 
consider it … The PWC folks 
pointed out that we’re an 
outlier and they don’t know of 
other universities that vote on 
individual investments on the 
Board.”

In regard to the image of 

moving a public decision to a 
private 
committee, 
Schlissel 

claimed 
it 
wouldn’t 
affect 

the University’s openness on 
investment decisions.

“We 
currently 
provide 

a report every year on the 
University’s investments and 
that’s all public and that’s a 
normal 
practice,” 
Schlissel 

said. “It wouldn’t be a change 
in transparency because these 
things are already reported on 
an annual basis.”

Financial Aid Programs
According 
to 
the 
Office 

of 
Financial 
Aid, 
the 

University cost of attendance for 
in-state students is $30,298 
and $64,386 for out-of-state 
students. 
When 
discussing 

other leading institutions like 
New York University’s medical 
school covering tuition for all 
of its students and Stanford 
University 
covering 
tuition 

for all students whose income 

is below $125,000, Schlissel 
focused 
on 
Michigan’s 

prominent 
aid 
program 

— the Go Blue Guarantee.

The Go Blue Guarantee 

covers tuition for in-state 
students 
whose 
income 

is 
below 
$65,000. 

Schlissel said this is a big 
accomplishment for a public 
university.

“We are, as far as I know, 

the first public university 
ever to make a guarantee of 
four years of free tuition and 
fees for half of the families 
in the state of Michigan,” 
Schlissel said.

Schlissel 
added 

universities like Stanford 
University 
or 
Harvard 

University that have the 
financial capacity to grant 
more aid is beneficial for 
their 
students. 
For 
the 

University of Michigan, on 
the other hand, he said the 
Go Blue Guarantee does 
good work.

“What 
Michigan 
has 

done (with the Go Blue 
Guarantee), to me, it’s the 
thing I’m proudest out of 

everything I’ve accomplished 
since I’ve been here,” Schlissel 
said.

For 
out-of-state-students, 

Schlissel said the University 
meets 
the 
federally-

calculated 
financial 
need, 

based on the FAFSA. He said 
the University would like to 
help more students attend but 
will prioritize in-state families 
with programs like the Go Blue 
Guarantee.

“I would love to be able to 

do corresponding things for 
other populations of people, 
but our first responsibility as a 
Michigan public university is to 
the members of our community 
here in the state,” Schlissel said.

Schlissel said other public 

universities 
are 
following 

the University’s example and 
expanding financial aid budgets 
and programs to make college 
more affordable.

“Ohio has copied us, Illinois is 

copying us, and I think that’s a 
wonderful thing,” Schlissel said.

Michigan Voting Laws
The University of Michigan 

and Michigan State University’s 
chapters of College Democrats 
recently filed a lawsuit against 
the 
Michigan 
Secretary 
of 

State over what they see as 
unnecessarily restrictive state 
voting laws, bringing renewed 
attention on campus to voting 
accessibility.

Schlissel was instrumental 

in starting the Big Ten Voting 
Challenge, an initiative aimed 
at increasing voter registration 
and turnout at Big Ten schools. 
After hearing the idea, originally 
proposed for just the University 
of Michigan, Schlissel wrote 
the other 13 Big Ten university 
presidents 
and 
proposed 
a 

contest for the greatest increase 
in the percentage of registered 
voters and the biggest campus 
turnout. The others responded 
positively 
and 
began 
the 

initiative.

Schlissel 
expects 
campus 

turnout to be much higher than 
in previous elections and lauded 
the recent public focus on voting 
at the University.

“Anything that makes it more 

difficult to exercise the right 
to vote — I think you have to 
be enormously careful about,” 
Schlissel 
said. 
“And 
what 

we’re trying to do is encourage 
all Michigan students to get 
registered, whether it’s here 
in the state or their home state 
— and to vote. … I’m really 
optimistic that the turnout is 
going to be much greater than 
it has been in recent elections 
because of all the focus on this. 
It’s much better to participate 
in the process than to complain 
about elections.”

Schlissel also addressed the 

possibility of not holding classes 
on Election Day, as mentioned 
by CSG President Daniel Greene 
at the board meeting last 
week. In the short term, the 
administration 
has 
asked 

faculty to be mindful of the date 
and try not to schedule exams or 
events on that date.

Schlissel has also discussed 

canceling classes on Election 
Day and making up the lost class 
time by shortening Fall Break 
by one day, an idea that has 
seen a mixed reception among 

2 — Tuesday, September 25, 2018
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