Ohio State University Takes Steps to Lower Student Debt

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With American Student Debt reaching a monumental $1.45 trillion this year, spread over roughly 44 million borrowers, elected officials and University officials around the country have been working to come up solutions that will make college education affordable and not burden graduates with unmanageable debt. This week, the Board of Trustees at The Ohio State University approved reduced tuition and fee rates for the 2018 summer semester in an effort to lower student debt. This discount, equating to a 25% discount compared to fall and spring semesters, is expected to save student at the Columbus Ohio campus nearly $2.4 million.

Columbus Ohio Discounts

The overall goal of the summer program discount is to encourage more Columbus campus undergraduates to take advantage of summer course, which in turn will decrease degree completion time and improve use of the campus facilities during the summer, which is historically a period of lower utilization. The overall plan for The Ohio State University performance goals is to increase accessibility of a college degree while making it affordable.

Reversing the Rising Cost of Tuition

The cost of college tuition has grown by an incredible 1000% over the course of the last 30 years. The Ohio State University is joining the ranks of a number of U.S. Universities and Colleges that are committed to lowering the average tuition and fees. Among other Ohio based, higher education organizations that have pledge to lower the cost of tuition, fees, and admittance are: Ashland University, Ohio Northern University, The University of Cincinnati, Antioch University Midwest, Urbana University, and University of Dayton.

This recent news should be viewed as just the tip of the iceberg in making a U.S., 4 year degree more affordable as there is still clearly a lot more work that can and will be done. But what if you have already graduated and are saddled with student loan debt? There are many state level and federal level programs designed to reduce student loan repayment in accordance with your income level, in addition to, programs to forgive student loan debt completely. The aim of these programs is to keep individuals from defaulting on loans and staying financial solvent as you pay back your student loans. If you are currently struggling with student loan debt, a call to your local Ohio bankruptcy attorney can also help offer suggestions on ways to deal with your financial burdens.

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