Although UW-Madison School of Business Dean Michael Knetter told a women's leadership organization Tuesday the school undercharges for its tuition, he clarified Wednesday he is sensitive to the financial struggles many students face.
When I said UW-Madison's tuition was underpriced, I meant it in relation to both the in-state tuition rate and the economic opportunities created in other Big Ten institutions,"" Knetter said in an interview. ""I specifically did not mean it in relation to all students and all families attending the university.""
Knetter compared UW-Madison's business school to his alma mater, UW-Eau Claire. He said although a four-year degree from Madison would cost $7,752 more than a degree from Eau Claire, Madison students can pay off their debt upon graduation.
""The starting salary for UW-Madison business graduates is $9,000 a year higher than the reported starting salaries for Eau Claire business graduates,"" he said. ""So that shows you, yes, our tuition is higher, but in one year the average salary pays you back '¦ Those salary differences persist over a lifetime.""
Sarah Schultz, a junior at UW-Madison, is one of many business school students paying differential tuition for her degree. Business school undergraduates pay an extra $500 per semester, and Certificate of Business students pay an extra $150.
""Although it's kind of unfortunate for those of us paying the [differential] tuition, if it helps make the program stronger, then I support it,"" Schultz said.
Cydni Chapman, a UW-Madison sophomore and prospective business student, advertised the school as one of the best in the country and said the differential tuition rate would not stop her from applying.
""That's why I came to Wisconsin in the first place - to get into the business school,"" she said.
Chapman also noted the importance of financial aid for students from low-income families, though she said she does not receive such aid.
Knetter said students with various income backgrounds have different needs when it comes to tuition prices.
""What got us into this discussion was an attempt to be sensitive to those families who pay taxes and subsidize tuition,"" he said.
