Parents: Strive for 2012 AGI of $80,000 or below!

Colleges & Universities A-Z University of Wisconsin
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<p>Included in undergraduate tuition at UW-Madison is a 'surcharge' via the Madison Initiative for Undergraduates.</p>

<p>Madison</a> Initiative for Undergraduates
Frequently</a> Asked Questions Madison Initiative for Undergraduates</p>

<p>Generally if your Adjusted Gross Income (AGI) for 2012 is $80,000 or lower and the student qualifies for need-based aid* (via the FAFSA), the student will receive the Hold Harmless Grant which is a remission of the surcharge. For Wisconsin residents, the surcharge is $500/semester. For nonresidents (but not Minnesota residents) the surcharge is $1,500/semester </p>

<p>If your 2012 AGI is close to but over $80,000 and your student qualifies for need-based aid*, consider making a deductible 2012 IRA contribution on or before April 15, 2013. In the extreme case, a non-Wisconsin resident with AGI of $80,001 who makes a $1 IRA contribution will likely save $3,000!</p>

<p>*Link to UW-Madison's Net Price/Award Calculator (you need to know the EFC from the FAFSA):</p>

<p>[url=<a href="http://www.finaid.wisc.edu/award-estimator.php%5DNet"&gt;http://www.finaid.wisc.edu/award-estimator.php]Net&lt;/a> Price / Award Calculator | Office of Student Financial Aid - University of Wisconsin</p>

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<p>As a side note, while the Madison Initiative for Undergraduates tuition surcharge is also included in summer school tuition rates, you will not receive the remission credit unless you call the Financial Aid office, explain in detail, and ask for it.</p>