The bill proposes the enactment of section 3333.0421 of the Revised Code, which mandates that each institution of higher education in Ohio report the cost of attendance for Ohio residents enrolled as undergraduate students annually to the chancellor. The chancellor is then required to post the definition of "cost of attendance" as per federal law and the reported costs on a public website. This aims to enhance transparency regarding the financial obligations of students attending higher education institutions in Ohio.

Additionally, the bill amends Section 381.400 of H.B. 96 to establish guidelines for the Governor's Merit Scholarship Program. It specifies that qualifying institutions cannot reduce the amount of institutional financial aid offered to students receiving scholarships unless their total financial aid exceeds the institution's posted cost of attendance. This provision is intended to ensure that students do not face a net loss in financial support due to receiving merit-based scholarships. The existing Section 381.400 is repealed, and new language is inserted to clarify the responsibilities of the chancellor and the institutions regarding financial aid and scholarship distribution.

Statutes affected:
As Introduced: 381.400, H.B, 3333.0421