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:
“He should have a lifetime appointment, he’s a terrific talent”
Emails released this week show the state’s special counsel accusing Young of obstructing an in investigation into the Nassar scandal. Young says the documents the special counsel wants are protected by attorney-client privilege.