All of our leaders, both in government and business, are focused on the economic crisis. As a state and a nation, we need to make hard decisions, better decisions than in the past.

However, just as there is no free lunch, there are no easy nor universally popular solutions. All sorts of proposals, from buying "toxic" assets to investing in the auto industry, have been put on the table. Some have already been rejected; most have, at best, an uncertain result.

But one investment has a guaranteed return, and that is an investment in education.

A National Center on the Education Quality of the Workforce study showed that a 10 percent increase in the educational attainment of the workforce yields an 8.6 percent increase in productivity, compared to only a 3.4 percent increase due to a similar investment in fixed capital.

The fundamental resource in the knowledge economy is brainpower -- and unlike fossil fuels, we can do something about our supply of brainpower.

If Wisconsin invests in the education of all students, we will have a competitive edge in the knowledge economy.

Gov. Jim Doyle is now considering including increased student aid as part of a statewide economic stimulus package.

Students cannot wait for good times to return before obtaining an education. Wisconsin, already 30th nationally in the percentage of population with a college degree, also trails the Midwest in the amount of need-based financial aid provided to students.

Minnesota, on the other hand, leads the country in providing student aid and is 11th in the country in the percentage of its population with a college degree. In fact, the Wisconsin Higher Educational Aids Board says the average unmet need of low-income Wisconsin students applying for aid is $4,741.

These are Wisconsin students attending Wisconsin colleges and universities, and, if they qualify, they deserve equitable financial aid assistance.

In a knowledge economy, all students are a valuable investment in Wisconsin's future.

There are signs of hope:

The presidents of the Wisconsin Association of Independent Colleges and Universities have voted unanimously to support equitable increases in financial aid for UW, technical college, and WAICU students.

Competitive Wisconsin Inc., a council of corporate, labor and educational leaders on which I serve, has made education investment a top priority at all levels.

Already in his budget instructions, Gov. Doyle pledged to build on the educational initiatives including financial aid increases to Wisconsin college students.

I know that setting priorities when revenues are down is not the path to popularity. But we need to have some backbone. We must get it right for the state's economic future and for our children and grandchildren.

Wegenke is president of the Wisconsin Association of Independent Colleges and Universities.