Economic Impact
Wisconsin taxpayers get a tremendous return on their investment in the state’s flagship university
Revenue Sources in Fiscal Year 2023–2024
UW–Madison receives revenue from five main sources, generating over $4.9 billion in revenues in fiscal year 2023–24. The university’s mission is supported by state and federal government investments, tuition, research grants, and contributions from friends of the university.
The chart to the right reflects the breakdown of revenue sources received in fiscal year 2023–24.

Tuition & Required Fees
UW–Madison is consistently ranked one of the nation’s best values among public colleges and universities. The support of generations of Wisconsinites has helped to make UW–Madison a world-class institution. With continued support from state taxpayers, we strive for excellence while keeping tuition for in-state students affordable.
UW–Madison ranks 13th among the Big Ten Conference’s 16 public universities for in-state resident undergraduate tuition and fees. For nonresident undergraduate students, UW–Madison tuition and fees are sixth among Big Ten public universities.
Undergraduate: Resident | Nonresident | |||
---|---|---|---|---|
University | Amount | Rank | Amount | Rank |
Pennsylvania State University | $20,644 | 1 | $41,790 | 8 |
Rutgers University | $17,929 | 2 | $37,441 | 12 |
University of Michigan | $17,736 | 3 | $60,946 | 1 |
University of Illinois at Urbana–Champaign | $17,640 | 4 | $36,760 | 13 |
University of Minnesota–Twin Cities | $17,214 | 5 | $38,362 | 11 |
Michigan State University | $16,458 | 6 | $43,842 | 4 |
University of Oregon | $16,137 | 7 | $44,598 | 3 |
University of California–Los Angeles | $15,203 | 8 | $49,403 | 2 |
The Ohio State University | $13,243 | 9 | $40,021 | 10 |
University of Washington | $12,973 | 10 | $43,209 | 5 |
Indiana University | $12,144 | 11 | $41,891 | 7 |
University of Maryland | $11,809 | 12 | $41,186 | 9 |
University of Wisconsin–Madison | $11,603 | 13 | $42,102 | 6 |
University of Iowa | $11,283 | 14 | $33,371 | 14 |
University of Nebraska | $10,262 | 15 | $28,592 | 16 |
Purdue University | $9,992 | 16 | $28,794 | 15 |
Average excluding UW–Madison | $14,711 | $40,680 | ||
Midpoint excluding UW–Madison | $15,203 | $41,186 | ||
UW–Madison distance from midpoint | -$3,600 | +$916 |
Source of Funds
UW–Madison’s funding sources have shifted over the decades. As the chart below indicates, the amount of support the university receives in state funds relative to its overall budget has declined, and the university has become increasingly reliant on private donations, federal dollars, research grants, and tuition payments.
In 1974, the year the UW System was created, the state’s appropriation accounted for 43 percent of UW–Madison’s total budget. This has declined to 13 percent of the university’s total budget in 2024. State support in inflation-adjusted dollars in 1974 was approximately $671 million. Since that time, it has declined by approximately $84 million in inflation-adjusted dollars.
UW–Madison Expenditures
Expenditures at UW–Madison reflect the core missions of education, research, and outreach. More than $2.5 billion, 53.4% of total expenditures, is allocated to our academic units. In addition, 27% is spent on student financial aid and support units necessary to the academic and research missions of the university, such as the library system and information technology, and 11.3% is spent on auxiliary units, such as Housing, that serve the entire university and generate much of their own revenue.
Access
- UW–Madison is committed to enrolling a minimum of 3,600 Wisconsin residents and admitting the top 5% of all graduating Wisconsin high school seniors.
- The 2023 freshman class of 8,516 students includes the second-highest number ever of Wisconsin residents at 3,825, once again higher than the 3,600 Wisconsin resident students UW-Madison has committed to enrolling in each fall freshman class.
Affordability
- For 2023–24, 66% of bachelor’s degree recipients had no student loan debt, the highest debt-free percentage in the last 10 years. Of those that had student loan debt, the average was $27,083.
- In 2024, 22% of Wisconsin resident undergraduate students were covered by either Bucky’s Tuition Promise (which ensures full coverage of tuition and fees for students with family incomes under $65K) or Bucky’s Pell Pathway (which ensures coverage of the full cost of attendance for students who qualify for the Federal Pell Grant). These programs are funded with institutional dollars and private gifts at no cost to taxpayers.
Building Wisconsin’s Workforce
- Time to graduation remains low. Undergraduates now complete
their degrees in an average of 3.86 calendar years, down from 4.13 10 years ago. - 82% of Wisconsin resident graduates remain in Wisconsin five years after earning their degree.
- 184,163 UW–Madison alumni live and work in every one of Wisconsin’s 72 counties.
- In 2022–23, UW–Madison awarded 5,479 STEM degrees and 989 degrees in health fields at all levels, accounting for 52.4% of all degrees.
Commitment to Wisconsin
UW–Madison’s commitment to Wisconsin creates a powerful partnership to grow the state economy by using funding from the state budget to educate and prepare students to become the next generation of highly skilled employees needed by Wisconsin businesses.
Budget in Brief Archive
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