MADISON, Wis. – With families wondering if they can afford college, new private and public investments are providing additional financial aid for students.
In a presentation to the University of Wisconsin System Board of Regents today, President Kevin P. Reilly discussed significant progress being made to increase need-based student aid.
Reilly announced that nearly 2,000 UW students received $1.76 million in new need-based assistance from the Fund for Wisconsin Scholars (FFWS) during the Fall 2008 semester. That private, non-profit fund was established through a $175-million gift from John and Tashia Morgridge.
| Fall 2008 Semester |
Grant Recipients
|
Grants
|
Stipend recipients
|
Stipends
|
Total Aid
|
| UW-Colleges |
100
|
$90,000
|
147
|
$73,809
|
$163,809
|
| UW-Eau Claire |
33
|
$57,750
|
146
|
$45,500
|
$103,250
|
| UW-Green-Bay |
24
|
$42,000
|
42
|
$30,980
|
$72,980
|
| UW-La Crosse |
46
|
$80,500
|
68
|
$33,486
|
$113,986
|
| UW-Madison |
37
|
$64,750
|
82
|
$78,833
|
$143,583
|
| UW-Milwaukee |
92
|
$161,000
|
272
|
$136,423
|
$297,423
|
| UW-Oshkosh |
79
|
$138,250
|
121
|
$60,317
|
$198,567
|
| UW-Parkside |
40
|
$70,000
|
75
|
$37,274
|
$107,274
|
| UW-Platteville |
42
|
$73,500
|
70
|
$35,648
|
$109,148
|
| UW-River Falls |
18
|
$31,500
|
46
|
$22,786
|
$54,286
|
| UW-Stevens Point |
47
|
$82,250
|
111
|
$55,156
|
$137,406
|
| UW-Stout |
31
|
$54,250
|
37
|
$36,862
|
$91,112
|
| UW-Superior |
12
|
$21,000
|
28
|
$15,352
|
$36,352
|
| UW-Whitewater |
44
|
$77,000
|
103
|
$51,311
|
$128,311
|
| Total: |
645
|
$1,043,750
|
1,348
|
$713,737
|
$1,757,487
|
The first FFWS grants went to 645 students, who can continue receiving FFWS grants for up to 10 college semesters. In its first semester of operation, the Fund also provided stipends to 1,348 eligible UW students. The UW System expects that a similar number of FFWS grants and stipends will be awarded in the current Spring 2009 semester.
“Wisconsin is doing a good job of keeping costs down, and these significant private investments in financial aid are making a big difference, but we have more work to do,” said Reilly. “There is good news on the Federal front, with serious discussions about increasing Pell grants and other aid. At the State level, we’re working closely with the Governor and the Legislature to provide adequate need-based aid for our hardworking students.”
At the national level, lawmakers in Washington have proposed major new investments in financial aid for college students. Provisions of the stimulus bill passed by the House Appropriations Committee would increase financial aid to college students. Noteworthy elements include $15.6 billion for Pell Grants, increasing the maximum grant by $500, to $5,350. The bill would raise the limit on unsubsidized Stafford loans by $2,000, providing aid to middle-income families. Total funding for work-study programs would grow by $490 million.
In the 2007-08 academic year, 35 percent of all University of Wisconsin System students received outright grants and scholarships totaling more than $269 million, a 12 percent increase over the previous year.
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Fund for Wisconsin Scholars: http://www.ffws.org
UW System: http://www.wisconsin.edu