House Bill 166, Ohio’s budget bill, increased the Ohio College Opportunity Grant (OCOG) by $47.3 million over the biennium. This investment in Ohio’s students is the largest increase to funding in a decade.
Before this budget, Ohio’s state need-based aid program has been woefully underfunded. In fact, Ohio is ranked 33rd among states in need-based aid provided and lags every state in the region by a substantial amount.
An investment in OCOG actually saves the state, and taxpayers, more money than it costs.
For every degree awarded at an independent college, the state only pays $1,350 on average, while it pays $21,119 for a four-year state degree and $24,883 for a community college degree.
Clearly, any student who attends an independent college costs the state drastically less than a student who attends any state institution.
Our future economy is dependent on bachelor’s degrees more than any other kind of post-secondary attainment. We believe that the state’s new budget will help support that need. Its emphasis is in the right place, makes meaningful investments, and will help all Ohioans achieve their educational goals.