UW-Madison Chancellor Biddy Martin reiterated her new initiative for increasing tuition and financial aid to students, faculty and staff in a news conference Wednesday at Bascom Hall.
If passed by the UW System Board of Regents, Martin's Madison Initiative for Undergraduates would result in a possible $40 million increase to tuition and financial aid over the next four years.
Martin said she hopes her plan will better prepare students for the current state of the economy.
This has to be addressed now, not despite the terrible economic circumstances '¦ but because of them,"" she said.
She also emphasized that it is not part of the university's response to looming budget cuts.
Dean of Students Lori Berquam said the plan's strength comes from its clear focus.
""It's very strategic and very specific, so it's not to fill any shortfall budget-wise,"" she said.
If passed, the plan will allocate half its funding to undergraduate instructional support.
Martin said the plan aims to increase availability and breadth of courses, give students more opportunities to interact with faculty, enhance student services and invest in new learning strategies.
The other half of funds raised for the initiative would go toward financial gift aid. In the Big Ten conference, UW-Madison currently offers the least amount of financial aid to its students.
Susan Fischer, Student Financial Aid director, said many students qualify for financial aid but do not receive it.
""It won't fix it completely but it will be a tremendous step,"" she said.
To fund the initiative, a supplemental tuition charge would last four years at $250 per year for in-state students and $750 per year for out-of-state students.
The plan calls for private donations to match every dollar in tuition increase. Martin said she sees this initiative as part of a change in the funding model for the university.
""We're moving to an era where we rely more heavily on what we can raise privately, and on those students and families who can afford it,"" Martin said.
Martin will hold a second forum for more feedback Thursday at 6:30 p.m. in Room 19 of Ingraham Hall.
