Michigan State University plans to increase its investments in derivatives, a market many other colleges are exiting after suffering major losses in recent years, according to Bloomberg.

The East Lansing school will acquire $162-million of “basis swaps,” which bet on the difference between taxable and tax-exempt bond rates. At the same time, it is borrowing money to terminate other derivatives, as are Harvard, Wesleyan University, and other institutions.

Glen Klein, Michigan State’s head of investments and financial management, said the new deal is “a risk we understand and are comfortable taking.” Michigan State increased in-state tuition 5.2 percent last year amid declining returns on its endowment.

In other education news, the Cleveland industrialist Tinkham Veale II has pledged $20-million to the city’s Case Western Reserve University to build a new student center, reports The Plain Dealer.

The new facility will be named for Mr. Veale, 95, a 1937 graduate of Case Western’s predecessor institute and a longtime donor to the university whose name already graces its recreation center and natatorium.