The bill proposes the establishment of the Student Choice Grant Program under a new section, 3333.27, of the Revised Code. This program is designed to provide financial assistance to residents of Ohio who are enrolled as full-time students in bachelor's degree programs at eligible nonprofit institutions of higher education. The chancellor of higher education will be responsible for administering the program, which includes setting eligibility criteria, grant amounts, and application processes. Grants will be awarded based on residency, enrollment status, and academic performance, with specific limitations on eligibility for students previously enrolled in higher education before July 1, 2026, or those serving a term of imprisonment.

The bill also includes an appropriation of $95 million from the General Revenue Fund to support the Student Choice Grant Program. The grants will be paid directly to the institutions, which must reduce the students' charges accordingly. Additionally, the bill outlines reporting requirements for institutions regarding students who become ineligible for grants and establishes a framework for managing funds and expenditures related to the program. The legislation aims to enhance access to higher education for Ohio residents while ensuring accountability and proper management of state funds.