Ohio State University Spends $313Mln to Make College Affordable [Report]
For Ohio State University students, 2018 was marked with increased financial aid from the university that was disbursed to make college more affordable, a new report from the Ohio chancellor of higher education found.
According to the report, in 2018, the university spent $312.5 million providing financial aid to students along with $25 million spent on in-state students under President’s Affordability Grants and $553,500 to on the Land Grant Opportunity Scholarship.
The report was compiled in compliance with the Ohio law that requires all public universities to document affordability and efficiency measures taken by the institutions every year.
“I want to offer my appreciation to our higher education institutions for their commitment to affordability and efficiency initiatives on their campuses,” Chancellor John Carey wrote in the report. “This report illustrates the progress Ohio’s public colleges and universities are making toward a more affordable and efficient postsecondary education for all Ohioans.”
The report notes that the university saved students $47.6 million by extending financial aid, digital learning technology, introducing summer tuition discounts and reducing textbook cost.
“Ohio State’s commitment to affordability goes hand in hand with our focus on operational excellence,” said interim senior vice Michael Papadakis. “Every dollar that we save through efficiency measures is redirected back into our academic mission.”
Pertinently, the university is spending more than $11.1 million in the next four years in collaboration with Apple to provide free digital alternatives leading to a reduction in textbook costs.