“I am proud to be on the November ballot,” said Jasti, who earned the selection when hundreds of delegates voted for him at the Republican State Convention last month in Novi. “I want to thank all the delegates who trust me to bring balance and financial integrity to Wayne State University.”
With aggregate student debt at more than $1 trillion nationwide, Jasti is focused on addressing this crushing load that is holding back students for attaining higher education.
Jasti believes in the value of cutting costs in certain areas of Wayne State’s budget and reallocating that money to more effectively benefit the student population.
He said he plans to be a strong advocate for Wayne State in Lansing to ensure that students receive the proper levels of state funding to help control rising tuition costs.
Jasti also supports a strong focus to increase graduation rates, which will help attract more talented professors and research scientists to the institution. Jasti believes that the current Democrat-controlled Board has not done enough to address declining student graduation.
Jasti, a Wayne State graduate, and a University of Chicago MBA, has extensive experience in the financial industry, including his experience of working for the Federal Reserve. As a local entrepreneur, he founded a business-oriented community bank (Lotus) in Novi in 2007 by raising $14 million from investors. Under his guidance and leadership from 2008 to 2009, his bank lent more than $55 million to small businesses, which helped to create and to retain hundreds of jobs in local communities during the great financial crisis.
If elected, Jasti says he will bring balance and a “business focus” to Wayne State’s Board of Governors. Jasti’s feels his financial experience will help to analyze major university investments, as well as achieve cost reductions by streamlining processes, restructuring organizations and raising revenues – without compromising education quality.
Jasti holds an accounting degree from Wayne State University and an MBA from University of Chicago. He currently resides in West Bloomfield with his wife, Sree Jasti. They have two daughters, ages 24 and 17.