Colleges in Ohio Among Least Affordable, Study Finds
by Michelle Faust
Ohio ranks 45th in the nation in terms of college affordability, according to a new study out of the University Of Pennsylvania.
The report defines “affordability” as the percent of a family’s income that’s spent on higher education costs.
For an Ohio family with an annual income of $30,000, the study estimates the family would spend 81% of its income to attend a public research university, like Ohio State.
Part of the problem, according to the study’s co-author Darcie Harvey, is the amount of financial aid that Ohio provides its low income students.
“Ohio State contributes about $97 per student in need-based financial aid, and nationally the average is about $474,” says Harvey.
The report ranks colleges in Pennsylvania and New Hampshire as the least affordable, while Alaska and Wyoming colleges ranked most affordable.