The bill proposes the establishment of the Student Choice Grant Program under a new section, 3333.27, of the Revised Code. This program aims 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 is tasked with 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 stipulates that the receipt of these grants will not affect students' eligibility for other forms of financial assistance. Institutions are required to report on students' eligibility status and refund any unearned grant amounts to the state. The bill outlines the framework for the program, including the establishment of rules and reporting requirements, while ensuring that regulatory restrictions are not subject to certain provisions of the Revised Code.