This state report card is derived from "Measuring Up 2004," the national report card for higher education. Its purpose is to provide the public and policymakers with information to assess and improve postsecondary education in each state. "Measuring Up 2004" is the third in a series of biennial report cards. The report card grades states in six overall performance categories: (1) Preparation: How adequately are students in each state being prepared for education and training beyond high school?; (2) Participation: Do state residents have sufficient opportunities to enroll in education and training beyond high school?; (3) Affordability: How affordable is higher education for students and their families?; (4) Completion: Do students make progress toward and complete their certificates and degrees in a timely manner?; (5) Benefits: What benefits does the state receive as a result of having a highly educated population?; and (6) Learning: What is known about student learning as a result of education and training beyond high school? Findings for Wisconsin include: (1) Over the past decade, Wisconsin has made substantial improvement in preparing students to succeed in college, but other states have seen greater gains. This year Wisconsin falls to a B+ in preparation; (2) In Wisconsin, the proportion of young adults who enroll in higher education has declined over the last decade. However, Wisconsin continues to receive a B in participation because the declines of other states were similar; (3) Wisconsin, over the past decade, has made no notable progress in providing affordable higher education opportunities. This year Wisconsin receives a D in affordability; (4) In Wisconsin, there has been a notable improvement over the past decade in the proportion of students earning their certificates or degrees in a timely manner. This year Wisconsin receives an A- in completion; (5) Despite improvement over the past decade, Wisconsin still does not garner many of the benefits of having a more highly educated population. This year Wisconsin receives a C+ in benefits; and (6) Like most states, Wisconsin received an Incomplete in learning because there are no comparable data that would allow for meaningful state-by-state comparisons in learning. This report also includes additional information, questions and answers, state grades, and "Measuring Up 2004" resources. [For "Measuring Up 2004: The National Report Card on Higher Education," see ED508096.]