Mathews' 'Higher Education Return on Investment Act' Passes House Committee

State Representatives Adam Mathews’ (R-Lebanon) legislation known as the “Higher Education Return on Investment Act” unanimously passed during its committee hearing Wednesday. The bill provides more financial transparency to incoming college students in an effort to better clarify financial expectations as they begin their futures. 

“In our districts, and across Ohio, many families are rightfully concerned about the cost of college education and loan repayment,” Mathews said. “This legislation will assist new students and their families to set themselves up for success while highlighting the great value of our state institutions.”

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; and
• Salary range 5 years out for 25-75% of similar graduates, with the information most tailored to applicant.

The legislation now awaits House floor consideration.