College affordability includes five components: (1) tuition, (2) time to graduate, (3) state funding, (4) financial aid, and (5) operating efficiencies. State funding has been cut significantly over the past six years and is at an all-time low and financial aid has been frozen, despite the efficiencies the UW System has achieved. The UW System 2020FWD plan helps students graduate more quickly so they spend less on tuition, while also helping high school students come into the university system with more college credits under their belt. The Board of Regents has also approved a request for an increase in financial aid that goes directly to students.
State and federal financial aid continues to decline. When you freeze tuition, freeze financial aid, and cut state funding, you chip away at the money used to help ensure we can offer the classes our students need. When you cut classes, it takes longer to graduate. While freezing tuition may save a couple hundred dollars a year, students and families may end up paying more in the long run, said President Cross.
State funding for the Wisconsin Grant Program has remained flat at $58.3 million since the 2010-11 academic year. In turn, the average grant award amount has fallen from $2,161 to $1,773 to address the increase in the number of students who need financial aid.
In , the Board of Regents recommended increasing https://worldpaydayloans.com/payday-loans-ca/turlock/ state funding for financial aid by $19,152,300 for the 2017-19 biennium. The Wisconsin Higher Educational Aids Board (HEAB) would provide this funding directly to students. Fortsett å lese «The other 74% of students who graduated with student loans had an average debt of $30,650»