Nationally, estimated bachelor’s degree attainment rates by age 24 were 5 times higher for those in the highest income quartile than for the lowest income quartile (58 percent vs. 11 percent) in 2016.
It is estimated that any increases in financial aid targeted at students below the 45th percentile of parental income will be be self-financing in terms of future tax revenue.
In order to achieve Wisconsin’s goal of a 60 percent attainment rate by 2027, it is essential to provide opportunities to individuals who may not otherwise be able to pursue higher education.
Median weekly earnings for high school graduates are $712, while median weekly earnings for those with a bachelor’s degree are $1,173.
The Wisconsin Grants program consistently lags behind Minnesota’s need-based financial aid program, the Minnesota State Grant. Minnesota enjoys a return on its investment with its annual mean wage exceeding Wisconsin’s.