That's right ladies and gents...the Univ. of Michigan has made a "follow up commitment of $40 MM" to a credit fund run by Bain Capital affiliate Sankaty Advisors. The firm, most recently known for it's huge losses which forced it to raise new capital, has supposedly been asking current investors to pony up cash for margin...
Check out the minutes of the most recent meeting of the Regents for more info.
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If you think college cost a lot today wait a few years. The states are nearly broke today and they will be even more broke a few years from now. I would recommend that any parents thinking about paying for their childrens education. Pick a college and Prepay now so when your children are 18 years old you will not have to come up with the money for their education because some schools that you choose will give their word that what you paid today is good for the life of the student no worrying about the inflation of college costs if you prepay today.
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