During one of my recent visits to the University of Wisconsin-Platteville, I met with the Associate Controller in their Office of Financial Services. This employee oversees the process of sending each student important information about their loans to ensure students understand the amount of debt they will be incurring. All colleges and universities in Wisconsin are required to share this information with their students at the beginning of the school year. This is due to 2015 Wisconsin Act 284, which I authored.

This is the seventh installment of a series of columns called “Whatever Happened To…?” My goal is to provide a recap and update on an idea, bill, or project that I worked on in the past. The nature of the legislative cycle often encourages us to finish working on ideas and move on. But I like to follow-up and confirm that the projects, bills, and ideas I advance are accomplishing our goals. This column is one way to share this follow-up with you.

In 2016, my colleague Rep. David Murphy (R-Greenville) and I introduced a series of bills that we called the “College Affordability Legislative Package.” These bills were aimed at making common-sense reforms to help alleviate the financial burden on Wisconsin students. One of the bills that was signed into law required student debt transparency letters to be sent to all students attending a Wisconsin college or university. Each letter must include the estimated total cost of attendance for that year, information about student loans (including the amount of the loan, the loan’s interest rate, and estimated monthly payment of the loan), and the amount of state, federal, and institutional grants that the student received.

Often, students are unaware of the financial burdens that they are incurring when they take out a college loan at 18 years old. This bill helps students become better consumers and allows them to make informed financial decisions when they take out loans that will impact them for many years.

I have heard very positive feedback from both UW-Platteville employees and students during my visit to campus. These student debt transparency letters provide students with an opportunity to make smart financial decisions about the cost of their education.

In addition to hearing about the real-life impacts of my bill, this meeting reinforced for me what a great deal it is to go to UW-Platteville! For students who prioritize affordability when looking for a great education, you cannot do much better than UW-Platteville. UW-Platteville students leave school with a median student loan debt of $22,000, which results in a monthly payment of $253 after graduation. This is $10,000 less than the average Wisconsin resident’s student debt. UW-Platteville graduates then earn a median starting salary of $66,000, making UW-Platteville a pretty great investment!

It was great to see my common-sense reform in action at UW-Platteville. I am so proud that we have an affordable school that provides a fantastic education right here in southwestern Wisconsin. When our UW students are able to succeed, our whole region succeeds.

As always, if you need assistance with any state-related matters, please call my team at the State Capitol – 608-266-0703 – or email me – Sen.Marklein@legis.wisconsin.gov. My team is ready, and willing, to help navigate your state government, clear obstacles, and receive your input.