Warren-Clinton News

State Representative Adam Mathews from Lebanon has made progress in advancing the "Higher Education Return on Investment Act" in the Legislature. This bill aims to provide greater financial transparency to college students, helping them understand the financial implications of their education. The timing of this legislation is particularly relevant as student loan payments have resumed for many Ohioans and Americans across the country.

The bill recently underwent its second and third hearings in the Senate Workforce and Higher Education Committee. During these hearings, several students, organizations, and other Ohio citizens voiced their support for the bill, with no opposition.

If passed, the "Higher Education Return on Investment Act" will require all state colleges and universities in Ohio to provide a one-page disclosure form to students along with their notice of acceptance and financial aid packet. This form will include essential information such as tuition costs, room and board expenses, special fees, and mandatory fees. Additionally, it will outline the various financial aid options available to students, including grants, scholarships, loans, and work-study funds, along with any conditions that may cause them to be lost.

One significant aspect of the disclosure form will be the inclusion of expected monthly loan payments. This will give students a clear understanding of the financial burden they may face after graduation. Furthermore, the form will provide salary ranges at graduation and five years after graduation for 25-75% of similar graduates. The information will be tailored to each applicant, giving them a realistic idea of the potential earning potential associated with their chosen field of study.

Representative Mathews emphasized the importance of this bill, particularly in light of the resumption of student loan payments and the growing uncertainty surrounding loan statuses. He stated, "Now more than ever, with student loan payments resuming and more questions arising about loan status for many former students, this transparency is very relevant. It’s important we move forward with this bill to ensure we are assisting students regarding the finances of their education as they begin and plan their futures."

The "Higher Education Return on Investment Act" aims to empower students with the necessary information to make informed decisions about their education and future financial obligations. By providing transparency and clarity, this legislation strives to alleviate some of the financial burdens faced by college students.

To find out more, go to this link: https://ohiohouse.gov/members/adam-mathews/news/mathews-moves-higher-education-return-on-investment-act-forward-as-student-loan-payments-continue-117171