skip to main content
skip to newscasts

Friday, March 29, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

The latest on the Key Bridge collapse, New York puts forth legislation to get clean energy projects on the grid and Wisconsin and other states join a federal summer food program to help feed kids across the country.

view newscast page
play newscast audioPlay

Republicans float conspiracy theories on the collapse of Baltimore's Key Bridge, South Carolina's congressional elections will use a map ruled unconstitutional, and the Senate schedules an impeachment trial for Homeland Secretary Mayorkas.

view newscast page
play newscast audioPlay

Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

UW Grads Have Less Student Loan Debt than National Average

play audio
Play

Monday, January 19, 2015   

MADISON, Wis. - By the time they get their sheepskin, the typical UW-Madison undergraduate will have racked up more than $27,000 in student loan debt. It's a lot of money to pay back, but Susan Fischer, director of the Student Financial Aid office at the university, says it's still below the national average of $28,400. Fischer says an undergraduate degree from UW-Madison is a big investment.

"As expensive as it is, it takes my breath away," says Fischer. "On an Ivy League scale we're considered a good deal and this is a good school; it's a globally-recognized institution with a fine reputation."

Fischer says they're not able to track all the sources of money students use to pay their college costs, including money from moms and dads; 48 percent of them get their undergrad degrees without any student loan debt. She says parents sometimes are shocked at how much it costs.

"We're not cheap and we're not free," says Fischer. "It's doable, but it would be more doable if we could get more state assistance and more gift aid, in the way of donations through our foundation."

According to Fischer, Wisconsin students are more responsible about their student loan debt than in many other states. She cites a high student loan repayment rate in Wisconsin, with very few defaults.

There are many proposals circulating to help reduce the enormous national burden of student loan debt, such as allowing students to refinance their loans the way homeowners can refinance a mortgage. Fischer says at UW-Madison, student loan debt ranges from nearly nothing to huge amounts.

"Our students have, I think, a reasonable debt," she says. "The range for the 2013-14 undergraduate group the person with the lowest debt graduated with $26. The person with the highest had $149,000."

Fischer says parents are generally aware of how much a college education costs, but can still be surprised when they help their child apply for financial aid. She adds students coming right out of high school are often in for an awakening that has little to do with their loan amounts.

"Most of the students, the vast majority of our incoming freshmen especially, are highly intelligent and accomplished young people, and so they have just gone from being the 'big fish in a little pond' to one of many minnows in a giant pond," says Fischer. "So, the competition here is fierce."


get more stories like this via email

more stories
The U.S. Supreme Court heard arguments this week about the popular abortion pill Mifepristone and will weigh in on whether the U.S. Food and Drug Administration was correct in how it can be dosed and prescribed. (Ascannio/Adobe Stock)

Health and Wellness

play sound

Missouri residents are worried about future access to birth control. The latest survey from The Right Time, an initiative based in Missouri…


Social Issues

play sound

Wisconsin children from low-income families are now on track to get nutritious foods over the summer. Federal officials have approved the Badger …

Social Issues

play sound

Almost 2,900 people are unsheltered on any given night in the Beehive State. Gov. Spencer Cox is celebrating signing nine bills he says are geared …


A 2022 report finds failing to speed up transmission beyond the current pace will increase 2030 U.S. greenhouse-gas emissions by 800 million tons per year. (Adobe Stock)

Environment

play sound

New York's Legislature is considering a bill to get clean-energy projects connected to the grid faster. It's called the RAPID Act, for "Renewable …

Health and Wellness

play sound

A recent report examined how some rural Tennessee hospitals have managed to stay afloat despite financial challenges. The report includes interviews …

Many factors affect a customer's bill amount, including energy usage, weather, and the number of days in a billing period, according to Arizona Public Service. (Jason Yoder/Adobe Stock)

Social Issues

play sound

Earlier this month, a new Arizona Public Service rate hike went into effect and one senior advocacy group said those on a fixed income may struggle …

Social Issues

play sound

Michigan recently implemented a significant juvenile justice reform package following recommendations from a task force made up of prosecutors…

Health and Wellness

play sound

Medicare and Medicaid are key sources of health coverage for many Americans and some people qualify for assistance under both programs. With lagging …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021