MADISON, Wis.—The Financial Aid Modernization Act, passed by the Wisconsin legislature and signed into law by Governor Tony Evers today, will help students by making Wisconsin’s financial aid programs more user-friendly while aligning with federal financial aid requirements.
Act 80 makes needed updates to eligibility calculations in state statutes, aligns Wisconsin law with federal law, and amends the Wisconsin Grant programs to be more student-focused and student-friendly.
Significantly, it lifts the $3,150 cap on the Wisconsin Grant award for Universities of Wisconsin and Wisconsin Technical College System students, which will result in the neediest students receiving more aid. The law also allows all UW students to be eligible for the state emergency grant program.
“We thank Governor Evers for signing this bipartisan effort to support students by simplifying and improving Wisconsin’s financial aid programs to meet the needs of our students,” said Universities of Wisconsin President Jay Rothman.
Rothman and chancellors attended the signing ceremony along with representatives from other higher education sectors and financial aid groups.
The law aligns Wisconsin statutes with changes made by the Federal Student Aid (FAFSA) Simplification Act, a bipartisan measure that made several changes to the Higher Education Act of 1965.
The legislation, led by Sen. Joan Ballweg and Rep. Dave Murphy, will help Wisconsin students navigate federal and state financial aid processes while recognizing the changing nature of today’s students and their diverse higher education pathways.
The Universities of Wisconsin serve more than 162,500 students. Awarding nearly 37,000 degrees annually, the universities are Wisconsin’s talent pipeline, putting graduates in position to increase their earning power, contribute to their communities, and make Wisconsin a better place to live. Nearly 90 percent of in-state Universities of Wisconsin graduates stay in the state five years after earning a degree. The universities provide a 23:1 return on state investment. The Universities of Wisconsin also contribute to the richness of Wisconsin’s culture and economy with groundbreaking research, new companies and patents, and boundless creative intellectual energy.