Ohio State Raises Money To Wipe Student Loan Debt For Undergrads

Ohio State has announced the launch of a new 10-year plan to raise $800 million to eliminate all loans from financial aid packages given to undergraduates. Ohio State graduates more than 8,000 undergrads a year. The university says about half of those students graduate with debt and on average, graduates leave the university owing about $27,000. Their debt is the amount that is in line with national averages for students completing a bachelor’s degree.

President of Ohio State, Kristina Johnson spoke on this plan, stating: “It’s not free college, it’s not free tuition, but can we take one of the largest universities in the country and develop pathways for our students so that they can graduate debt-free?… We have surveyed our students and what they tell us is that with $27,000 in average debt, they’re making choices that they otherwise would not have made. They’re not going to graduate school, serving their community, buying a house. We want people to follow their passions, what they’re really interested in, because we know when they do that, they’re going to be most successful, satisfied, happy, and fulfilled.”

Source: NPR