08/19/2024 | News release | Distributed by Public on 08/19/2024 14:49
MADISON, Wis.-Universities of Wisconsin President Jay Rothman today proposed a 2025-27 budget request that would allow the state's public universities to shed its ranking of 43rd of 50 states in public funding and reach the national median.
The two-year request will be presented to the Board of Regents on Thursday. If approved, the request will go to Gov. Tony Evers for consideration in his 2025-27 budget proposal.
"It's time Wisconsin escapes the Bottom 10 in public funding and gets Up to the Middle," Rothman said. "This budget request will spur innovation in research and teaching, make a degree more affordable for our students most in need, develop talent by focusing on student success, preserve accessibility, and ensure quality."
Rothman added that under this proposal, he would not recommend tuition increases over the period covered by the biennial budget. Additionally, the funding increase would help preserve branch campus access points for students throughout the state.
Wisconsin ranks 43rd of 50 states in public funding of four-year higher education, according to the latest State Higher Education Finance report by the State Higher Education Executive Officers Association (SHEEO). The figure includes state funding and tuition.
By comparison, surrounding states rank 1 (Illinois), 3 (Michigan), 9 (Iowa), and 10 (Minnesota).
"We won't win the War for Talent if we don't get Up to the Middle," Rothman said. "We're falling behind after years of neglect, and this budget seeks to address that trend."
Rothman said it would take an additional $457 million annually to reach the median of states, under the SHEEO report. Among the key features of the proposed budget:
The Universities of Wisconsin serve more than 162,500 students. Awarding nearly 37,000 degrees annually, these 13 public 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. Learn more at wisconsin.edu.