11:04 AM

Ohio State supports action steps to reduce college costs

Columbus, Ohio – The president of The Ohio State University today responded to the release of the report of the Ohio Task Force on Affordability and Efficiency in Higher Education, indicating that the state’s largest university is well-positioned to adopt the report’s action steps to reduce college costs.

“The central theme of the task force’s report is that we must effectively manage our resources and invest in things that improve the quality of the educational environment,” President Michael V. Drake said. “This principle is woven into the fabric of Ohio State, and we are working actively to improve affordability every day – while continuing to advance quality and excellence.”

The affordability and efficiency task force was appointed by Gov. John Kasich in February “to review and recommend ways in which state-sponsored institutions of higher education, including four-year universities and two-year community colleges, can be more efficient, offering an education of equal or higher quality while at the same time decreasing their costs.”

The group’s recommendations released in a report today direct Ohio’s public colleges and universities to streamline operations, reform administrative practices and policies, improve affordability of classroom materials and facilitate completion of an undergraduate degree. Geoff Chatas, senior vice president and chief financial officer at Ohio State, served as task force chair.

“The group assembled by the governor represented a partnership among state, business and higher education leaders to examine the system in an effort to improve outcomes for our students,” Drake said. “I applaud Gov. Kasich’s commitment to the future of public education in Ohio and am excited to continue to work with him to make our university the best it can be.”

Drake’s five-year 2020 Vision for Ohio State is strongly aligned with the task force’s recommendations. The 2020 Vision, which Drake described at his March 31 investiture, identifies affordable excellence, community engagement, and diversity and inclusion as top university priorities.

Drake’s vision set out a five-year goal to generate $400 million in new revenue through efficiencies and innovative funding to lower the cost and improve the value of students’ Ohio State education. This initiative has already generated $15 million in need-based aid for more than 12,000 in-state undergraduates.

“This report offers important guidance on how colleges and universities can be more effective stewards of resources while continuing to support the excellence of our students, faculty and staff,” Drake said. “I look forward to collaborating with colleagues around Ohio to ensure a world-class college education is within reach for every citizen in this state.”