WI AB486

Prohibits UW System institutions, Wisconsin technical colleges, and private nonprofit colleges (WAICU members) from reducing institutional gift aid when students receive private scholarships of $5,000 or less from Wisconsin-based entities

Allows institutions to reduce gift aid only when total aid exceeds financial need, but requires first reducing loans/work-study amounts and notifying students of their right to request cost of attendance reassessment

Permits reductions to student athlete aid to comply with NCAA or other national athletic association financial aid limits

Requires institutions to contact private scholarship providers and request re-awarding scholarships without restrictions on how funds apply to cost of attendance

Private scholarship providers are not obligated to comply with institutional requests; bill must be implemented to maximum extent federal law permits