2001-03 BIENNIAL BUDGET REQUEST
Financial need of Wisconsin college students continues to grow. The need to expand Wisconsin's trained workforce continues to grow. In order to provide access for Wisconsin residents to a college education or training beyond high school, financial assistance programs administered by the Higher Educational Aids Board (HEAB) for postsecondary education should become a priority. See background information below and Attachment A, which summarizes HEAB's 2001-03 Biennial Budget request.
The Higher Educational Aids Board administers need based undergraduate grant programs, the Academic Excellence Scholarship Program, tuition capitation programs for dental and medical students, the MN-WI Reciprocity and other interstate reciprocal tuition programs, as well as several undergraduate loan forgiveness programs. The Higher Educational Aids Board administered $52,003,149 in need-based undergraduate student grants and loans used in Wisconsin in 1999-00. This amounted to 5.21% of the total college costs needy Wisconsin families faced in 1999-00 compared to meeting 5.39% in 1995-96. After family resources and federal, institutional, community, and state resources were taken into consideration, $215,388,030 remained in unmet need. This reflects a 40.82% increase in financial need when compared to the level of financial need found in 1995-96. The financial assistance taken into consideration for this calculation includes need-based employment, loans, and grants. 175,430 needy Wisconsin students applied for State assistance in 1999-00. 47,221 awards based on financial need were made to those applicants. Wisconsin has, in the past, ranked between 12th and 14th in the country in terms of providing undergraduate need-based assistance to residents. However, Minnesota, a neighboring state which has a comparable number of applicants as Wisconsin, had in 1998-99 18% more awards and 113% more in state funded aid for college students. The average award for a Wisconsin undergraduate aid recipient in 1998-99 was $1,032. This was 158% less than Illinois ($2,662), 69% less than Michigan ($1,743), and 128% less than Minnesota ($2,356).
February 2001 Board Meeting Agenda
February 2001 Meeting Minutes
Board Reports Index
HEAB Main Page
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