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Higher
education is expensive. There is little doubt about that.
And unfortunately students pay the brunt of it via rising
tuition dollars.
In 1973,
Wisconsin’s tax dollars supported approximately half of the
UW budget. In the 2003-05 biennial budget, the state paid
less than 30 percent for the first time in the UW-System’s
history. The result? Wisconsin has gone from a low-tuition
state to a medium- to high-tuition state, making it harder
still for those students who come from lower-income
families.
That’s a
cycle that will continue until the state of Wisconsin starts
thinking of higher education as an asset rather than a
liability. And the UW System – though certainly not perfect
– is definitely an asset. According the 2003 study “The
Economic Impact of the UW System:
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The
University of Wisconsin System contributes $9.5 billion
dollars to Wisconsin's economy annually – 5.5 percent of
the state's gross state product.
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UW
System activities are responsible for 150,699 Wisconsin
jobs, which is 5.5 percent of Wisconsin's employed
workforce.
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The
UW System's presence in the state generates $408 million
dollars in state income and sales tax revenue annually,
about one-third of the $1 billion budget allocation the
UW receives from the state.
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Almost 70 percent of the $3.3 billion UW System revenue
comes from sources other than state taxes.
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UW
System employees spend more than $1 billion in Wisconsin
annually.
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UW
System students spend more than $1.3 billion annually in
Wisconsin over and above tuition, fees and
university-supplied room and board.
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Visitors to UW-related events spend more than $726
million dollars in the state.
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Wisconsin realizes a 9 percent return on its investment
in a UW System baccalaureate degree through higher taxes
paid by UW graduates.
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The
state is paid back for educating a UW System
baccalaureate student in less than 10 years.
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UW
System baccalaureate degree holders reap a 30 percent
return on their education investment beyond high school.
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A UW
System student is paid back for their higher education
in less than 3 years via employment.
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A UW
System graduate will earn almost $1 million more than a
high school graduate, twice that amount for a doctoral
or professional degree.
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When
UW-Marshfield/Wood County opened its doors in 1964,
there were 17 faculty serving 138 full and part-time
students. Today, we still have 17 faculty, but we’re
serving 656 full and part-time students.
Higher
education in Wisconsin is something to celebrate.
UW-Marshfield/Wood County graduates go on to be
doctors, lawyers, engineers,
teachers, actors, journalists, musicians, research
scientists, bankers, accountants, business executives,
pharmacists, college professors and more. Our graduates go
on to attend other prestigious colleges and universities
because we gave them the chance to better themselves.
That is definitely something this community, and the state,
should take pride in.
Dr.
Andrew Keogh is the dean and campus executive officer of
UW-Marshfield/Wood County, a freshmen-sophomore campus of
the University of Wisconsin.
