ANN ARBOR—Our endowment and our overall finances remain strong, thanks to prudent investments and strong management practices. At the same time, we are aware of the fiscal pressures facing the state and country, and potential ramifications for higher education. U-M’s 56th Annual Economic Outlook Conference this week shed further light on what the future holds for Michigan and beyond.

We are paying very close attention to the situation in Lansing, we have been advised to anticipate an executive order next month and are preparing for the budget challenges we expect are coming.

Provost Teresa Sullivan says the University will continue to concentrate on making a U-M education affordable and anticipates an increased need for financial aid. She encourages families who face severe financial problems due to job loss, foreclosure or business declines to make the U-M Office of Financial Aid their first point of contact for help with loans and advice.