MADISON, Wis. (WMTV) -UW-Madison’s Bucky Tuition Promise pays for four consecutive years of college for undergraduate students or two years for transfers.
Director of Financial Aid at UW-Madison Helen Faith says this is chance for students and parents to worry about other financial needs.
“They don’t need to worry about burdening their parents. Often times they won’t take out any student loans when they go to college. It may free them up to go to grad school more easily,” Faith said.
Freshman recipient Anika Herheim says when looking for her perfect fit–she did have financial fears.
“That was kind of alarming not alarming but nerve racking knowing I might be paying my loans off until my children go to college,” Herheim said.
UW-Madison was not Herheim’s first choice but she says this scholarship helped her stay close to her loved ones.
“I like being an hour and a half from home, I’ve gone home once a month and I see my parents every other weekend,” Herheim said.
The university says there is no catch to their commitment and it sets them apart from other universities.
“We decided to be very simple. We also designed the messaging to really simple. We did not want to get into the intricacies of financial language and be so confusing to families,” Faith said.
937 freshman and transfers received the promise for full tuition for all four years this year. Faith says the average amount for in-state students is $10,796.40 for one year for an in-state student.
Senior engineering student Isaac Wells-Cage says the scholarship helped alleviate finances but it has not stopped him from planning ahead.
“That doesn’t mean that I go absent with those other thoughts. I definitely think about money management on the daily. How will I afford my next month’s rent,” Wells-Cage said.
Wells-Cage says this promise sets minority and under privilege students up for success.
“Historically we don’t have as much of finances in comparison to other people,” Wells-Cage said.
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