WI SB868

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 if total aid exceeds financial need, and requires institutions to first attempt reducing loans or work-study before cutting gift aid

Requires institutions to notify students of their right to request a cost of attendance reassessment before any gift aid reduction occurs

Permits gift aid reductions for student athletes when necessary to comply with NCAA or other national athletic association financial aid limits

Requires institutions to contact private scholarship providers and request they rescind and re-award scholarships in a way that removes constraints on how the funds may be applied