39.53 Information for students relating to higher education costs.

244 words·~1 min read·/wi/chapter-39/39-53-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Definition. In this section, “institution of higher education” means an institution or college campus within the University of Wisconsin System, a technical college under ch. 38 , or any private postsecondary institution located in this state that provides an educational program for which it awards an associate degree or higher.

(2)Student letter.

(a)An institution of higher education shall annually provide a letter to all students to inform them of the cost of their education. Subject to par.

(c), the letter shall include all of the following:

1. For each student loan obtained by the student for which the student loan funds are distributed by the institution as part of the student’s financial aid package, all of the following information with respect to that loan:

a. The total amount of debt accrued under the loan to date.

b. The interest rate applicable to the loan.

c. Standard repayment terms for the type of loan.

d. The estimated monthly payment due under the loan when the repayment period commences.

e. The total projected amount of interest to be paid over the term of the loan.

f. The total projected amount, including both principal and interest, to be paid over the term of the loan.

2. The estimated total cost of attendance at the institution of higher education for the academic year, including actual or estimated costs of tuition, fees, and room and board.