The residents of Michigan would have to be fools to allow their legislature to approve the privatization of the University of Michigan for free. Right now they

The residents of Michigan would have to be fools to allow their legislature to approve the privatization of the University of Michigan for free. Right now they have 100% ownership of the university. The article claims that state funds are only 6% of the yearly income to the university. But, the other 94% is sales revenue and donations--neither of which buys equity. Even if the state contributed $0.00 per year, it would still have 100% ownership. That means the university would have to raise a lot of money to buy itself from the state and go private. And, since the university's reason for going private is to make it harder for Michican residents to attend the university in favor of out-of-state students with more money, there's no reason for the state to be charitable with the sale price. The article claims that the University of Michigan is somehow doing the state a favor by buying a bunch of construction. Yet, the university is a whole-owned subsidary of the state, so really the state is simply shuffling its own money around. The state could just cut the university's funding and use that money to buy buildings somewhere that is probably much more beneficial to the average Michigan resident.