Ohio State still a good value

COLUMBUS – The Ohio State University continues to provide a quality educational experience at a reasonable cost, especially when compared with top public institutions in other states and other universities in Ohio, Senior Vice President for Business and Finance William J. Shkurti told the university’s Board of Trustees Wednesday (3/5).

The annual financial benchmark report measures the university’s revenues and spending compared with benchmark institutions — nine universities that are highly ranked academically and comparable to Ohio State in mission, size and configuration. They are Pennsylvania State University and the universities of Arizona, Illinois, Michigan, Minnesota, Texas, Washington, Wisconsin and California at Los Angeles.

“When compared to benchmark institutions, Ohio State has approximately 16 percent less resources per student, yet continues to improve the quality of its academic programs and the quality of the experience of its students,” Shkurti said. “This university continues to be a tremendous value to students and the taxpayers of Ohio.”

While the report does not reflect the impact of FY 2002 and FY 2003 budget reductions, the information still provides useful comparisons, he said.

The university still trails the benchmark institutions in major categories of current funds revenue per student, except in tuition and fees, but has improved significantly in most areas, Shkurti said. At $31,109, Ohio State has 16 percent fewer resources per student than the $37,130 benchmark average. Yet resident undergraduate tuition and fees at Ohio State are 4.8 percent below the benchmark average while new student tuition and fees are 3.9 percent above.
Ohio State’s resident undergraduate tuition and fees are the lowest among Ohio’s public four-year universities with selective admissions.

Compared to benchmark institutions, Shkurti said that Ohio State spends above the average for instruction, public service and — for the first time this year — student services, but well below the average for most other noninstructional services. The university spent 126 percent of the benchmark average for public service, 115 percent of the average for instruction, and 105 percent of the average for student services.
Significantly less than the average was spent on support services — such as for physical plant expenses and student support services — outside the classroom.

In conclusion, Shkurti said that Ohio State has made significant progress since the early 1990s. Despite budget challenges, Ohio State continues to improve the quality of its academic programs and the quality of the student experience. In order to continue to make progress, the university will need to continue to manage its existing resources effectively, assure continued state support, and expand and develop its revenue base.

He also reminded the board that national rankings provide another indication of the value — in both academic and financial terms — of an Ohio State education. Ohio State was ranked 42nd in academic reputation by U.S. News & World Report in 2003 and has an annual in-state tuition of $5,660 for the 2002-03 academic year, while Miami University was ranked 60th with tuition of $7,600. Ohio University was ranked 78th and had tuition of $6,330, the University of Cincinnati ranked 142nd with tuition of $6,930, and Kent State University was ranked 159th with tuition of $6,370.