Michigan State University will borrow money to pay a half billion dollar settlement to sexual abuse survivors.
The Board of Trustees approved issuing a bond to pay for a proposed settlement with more than 300 survivors of former faculty member Larry Nassar. The half a (b) billion dollars will be paid back using insurance, investments and interest.
The board also approved a 1-point-3 million dollar contract for its new Vice President of Legal Affairs, Robert Young. His contract is for three years.
Interim President John Engler: