Mathews Introduces Higher Education Return on Investment Act
COLUMBUS— State Representatives Adam Mathews (R-Lebanon) and Jim Thomas (R-Jackson Twp.) introduced legislation earlier this week that if passed will provide more financial transparency to incoming college students.
Known as the “Higher Education Return on Investment Act,” the proposed bill has been created to give incoming college students better clarification of the financial expectations as they begin their futures.
Under the bill, all state colleges and universities in Ohio must provide a one page disclosure form when providing to students a notice of acceptance and financial aid packet. The form must include information on:
- Tuition, room & board costs, special fees, mandatory fees;
- Grants, scholarships, loans, work-study funds, and how or if they can be lost;
- Expected monthly loan payment;
- Salary range at graduation for 25-75% of graduates, with the information most tailored to applicant;
- Salary range 5 years out for 25-75% of similar graduates, with the information most tailored to applicant.
“Our colleges are meant to prepare students to create a better Ohio,” Mathews said. “It is vital that we provide these students with transparency and clear expectations as they begin this vital chapter in their lives.”