UW System faces $60M projected debt by end of 2023–24 

According to the Wisconsin State Journal, most UW System schools will run short of the funds needed to maintain operations by the end of 2023–24 without additional support from the state.

On Thursday, financial forecasts released showed UW–Madison, UW–La Crosse, and UW–Stout as the only exceptions. The majority of the structural deficits are projected between just under $3 million–$6.5 million. UW–Milwaukee, with an $18.8 million deficit expected, is an outlier.

Wisconsin currently ranks in the bottom 20% across the country in funding for public four-year universities. The U.S. average four-year university funding is $17,733 per student; Wisconsin’s average is $15,079 per student.

The Legislature approved an $8.25 million increase to the System’s budget in 2021 after the System asked for $96 million. In 2019, the System got less than half of the amount requested at $58 million.

Classes ceased this month at UW­–Platteville at Richland after enrollment this fall dropped to 60. Similarly, though unrelated, Cardinal Stritch University’s recent closure after 85 years was due to a projected $6 million structural deficit.