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. Key eligibility requirements include being a resident of Ohio for at least two years, maintaining a satisfactory academic record, and not being enrolled in a higher education institution before July 1, 2026, or serving a term of imprisonment. The maximum grant amount is defined as either the total instructional and general charges of the institution or a calculated amount based on state instructional subsidies.

The bill also includes provisions for the administration of the grants, such as the requirement for institutions to certify student eligibility and the stipulation that grants will be paid directly to the institutions to reduce students' charges. Additionally, it specifies that the receipt of a Student Choice Grant will not affect a student's eligibility for other forms of financial assistance. The General Assembly is expected to support the program financially, with an appropriation of $95 million from the General Revenue Fund for the fiscal year 2027 to facilitate the program's implementation.