UW System President Kevin Reilly stressed the economic benefits of graduating in four years at the Board of Regents meeting Friday.
Reilly said only 29 percent of UW System students graduate in four years. In 2005, the four-year graduation rate for UW-Madison was 52.4 percent. These students, he said, save an average of about $15,000 more than those who take five years to graduate.Students can accomplish this by taking at least 15 credits a semester, he said.
Students can accomplish this by taking at least 15 credits a semester, he said.
According to Reilly, the system plans to implement a communications campaign to better inform UW System students about these benefits.
""One of those things we haven't done well enough with our students and families is communicating about these kinds of effective discounts and cost-saving options,"" he said.
Reilly also said undergraduates who work off-campus tend to take fewer credits, making it more likely that they will take longer to graduate.
He said the money students make at these jobs in some cases is not enough to offset the amount they pay for staying extra semesters.
According to Reilly, the system plans to provide more work-study options on campus for students who have to work.
""We want to keep [students] close so they don't have transportation time and costs, and we want to get them into work-study programs that relate to their degrees,"" he said.
Reilly also addressed the UW System's differential tuition policies Friday.
He said the board must strike a balance on how to generate more revenue to maintain and improve the quality at all UW System schools while also ensuring affordability.
""Let's be frank, money matters to quality, but I think we've done a very good job in this system of keeping our costs down,"" Reilly said, citing that UW System students pay about $15,000 less for tuition than their peers nationwide.
Reilly also said Wisconsin offers low financial aid compared to other university systems nationally.
He said, however, that the UW System has been fairly successful in its efforts to increase the amount of non-federal, non-state private aid to students.
The Board of Regents will take action in February on a revised differential tuition policy based on the discussion Friday.
