Wisconsin Economist Pitches New College Savings Plan

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Posted: 11:33 AM Sep 10, 2010 Wisconsin Economist Pitches New College Savings Plan Wisconsin's chief labor economist wants the state to save $1,000 every year for every public school student to help pay for college. Reporter: Associated Press

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MADISON, Wis. (AP) -- Wisconsin's chief labor economist wants the state to save $1,000 every year for every public school student to help pay for college.

Under the plan pitched by Dennis Winters, high school graduates who attend college in Wisconsin would have $12,000 as a "nest egg." For students who choose not to attend college, money would remain in the fund.

Winters says the savings could give students incentives to finish high school and get postsecondary training, improving Wisconsin's labor pool and boosting incomes and tax revenue.

The plan's $450 million annual cost would be funded through a one-cent increase in the sales tax.

Winters describes the plan in a publication issued by the Wisconsin Center for the Advancement of Postsecondary Education, a UW-Madison think tank.

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