SB 586

The bill creates a new grant program administered by the Board of Regents of the University of Wisconsin System. This program provides grants in the form of “last-dollar awards” to supplement the gap between any scholarships or grants that an eligible student receives outside of this program and the full cost of tuition and segregated fees during either eight consecutive semesters for incoming freshmen or four consecutive semesters for incoming transfer students. Summer terms are not counted in the consecutive semester count, and students may not receive the grants for summer terms. Students eligible for the grants must be new incoming students enrolled in their first bachelor’s degree whose household federal adjusted gross income is equal to or less than $71,000 a year and must be enrolled in an on-campus program at a UW System institution other than UW-Madison. The bill requires the Board of Regents to promulgate rules to implement and administer the grant program.