The U.S. House of Representatives approved a package Friday – just in time for the July 1 deadline – that extends federal student loan 3.4 percent interest rates another year.
This is the first of good news for UW System students whose Board of Regents approved a 5.5 percent tuition increase earlier this month.
It remains to be seen how this attempt to make up for $250 million in budget cuts will affect its overall efficiency, which was measured in a recent national study on higher education released June 19.
The study conducted by the Institute for a Competitive Workforce, an affiliate of the U.S. Chamber of Commerce, attempted to show states that were “leaders” and “laggards” across different measures. The Milwaukee Journal Sentinel’s analysis of the study ranked Wisconsin 30th in a tie with Pennsylvania.
While Wisconsin four-year institutions scored a C for student access and success, they did receive high marks on efficiency with the cost of completion for one degree averaging out to $5,000 less than the national average.
Two-year schools got an A for student access and success but received an F for efficiency and cost effectiveness with the cost to complete a degree more than $16,000 above the national average.
In other areas, Wisconsin received low marks for accountability and transparency because, like most states, Wisconsin does not report labor market outcomes or student learning.
Wisconsin’s biggest sour spot was innovation, receiving an F for openness to online service providers who develop programs for schools across state lines. In other words, we have relatively high costs, a hefty approval process, and heavy regulation for providers that could potentially bring new ideas to the public education system.
The day the results of the “Leaders and Laggards” survey were announced, Gov. Scott Walker announced a new online initiative called the UW Flexible Degree. Meant to fuel the state’s economy and increase the amount of college graduates, it would allow adults to take online classes at their own pace and get credit for previous classes and work experience. If successful, it could reverse some of these failing scores.
– Samy Moskol
