UW-Madison officials say they will cover tuition and fee costs for Wisconsin students from families with incomes below the state median, a move they say shows all state residents that an education at the state’s flagship campus is within reach.
The plan, dubbed “Bucky’s Tuition Promise,” was unveiled at a University of Wisconsin System Board of Regents meeting Thursday.
It pledges to cover four year’s tuition and certain fees for all in-state students who are accepted to the university and come from families with a yearly household income of $56,000 or less. University officials say that amount is roughly the median family income in Wisconsin.
UW-Madison officials stressed the plan will not trigger financial aid reductions elsewhere and is not funded with taxpayer dollars.
Rather, they said the anticipated cost — about $3 million a year when fully phased in — will be paid by private donations and other revenue sources such as licensing royalties.