COLUMBUS — Ohio State has announced an initiative that would allow students to graduate debt-free after four years.
The program known as the Scarlet and Gray Advantage will consist of increased scholarships, a paid internship program, more state and federal grants, and instruction in financial literacy.
President Kristina Johnson announced the program Friday at her investiture.
She emphasizes that the initiative is not free college.
She says it’s a way to help equalize the playing field that graduates start out on.
Johnson says nearly half of Ohio State students graduate with debt, with the average being about $27,000.
To achieve the goal within 10 years, the university will raise $800 million to support financial aid for low- and middle-income students, coupled with work opportunities and programs to help students develop financial literacy, Johnson said.