The University of Wisconsin Board of Regents voted Thursday to increase tuition for Wisconsin-resident undergraduate students at the University of Wisconsin-Madison by 4% during the 2023-24 academic year, according to UW News.
Starting this fall, in-state students will now pay $9,646 annually — a $372.30 increase from this year.
Segregated fees, out-of-state undergraduate tuition and housing costs will increase this fall as well. Out-of-state tuition and segregated fees will both rise by 3%. This means a $1,137.12 hike in out-of-state tuition and a $46 increase for segregated fees.
Housing expenses will increase by $200 to $7,433, according to UW News, and meal plans will rise by $50.
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In total, the increases will amount to $418 for in-state undergraduates. The increase is the first in over a decade, according to UW News.
UW approximates the tuition hike will produce $21.5 million to support teaching and research at UW.
Students who receive Bucky’s Tuition Promise and Bucky’s Pell Pathway will not see an increase in their cost of attendance. Bucky’s Tuition Promise makes tuition more affordable for in-state students and is funded by private gifts and institutional resources instead of state tax money. Bucky’s Pell Pathway funds first-year students who qualify for the Pell Grant.
In the release, Chancellor Jennifer Mnookin said the additional investment is necessary to maintain Madison’s top-tier academic standing.
“At the same time, it is critical to maintain and further build our commitment to ensuring that access to the university remains affordable, especially for students from Wisconsin with financial need,” Mnookin said in the release. “We believe the tuition plan approved by the Board reflects those priorities. UW–Madison has expanded financial aid offerings to lessen the impact inflation is having on families with financial need.”
The Board of Regents also voted to increase undergraduate differential charges in the Wisconsin School of Business and College of Engineering to $2,000 for the 2023-24 school year. Differential charges are fees on top of base tuition used to support additional initiatives within a particular program. Previously, students in the Wisconsin School of Business paid $1000.08 in differential charges.
The Board of Regents also established a $1,000 differential charge for undergraduate students in the School of Nursing.
The tuition increase comes ahead of the introduction of the Wisconsin Tuition Promise, an initiative that aims to increase the number of state residents, especially first-generation students and those from low-moderate income families.
