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Grads in Ohio may get funding Money would go toward house

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April 3, 2009

By Marc Kovac


Record-Courier Capital Bureau


COLUMBUS — The Ohio Senate passed legislation this week that would provide down-payment assistance for college graduates who agree to stay in the state.


On a 33-0 vote, the chamber OK’d Substitute Senate Bill 5, sponsored by Sen. Steve Buehrer, a Republican from Delta.


It heads to the Ohio House for further deliberations.


“This bill has three simple goals,” Buehrer said in urging support for the legislation. “Stop brain drain, increase the number of our citizens with degrees and ... (create) a few new home buyers in our state.”


The legislation would create a Grants for Grads program, providing a limited number of awards to Ohio residents who have earned associate, bachelor’s, master’s, doctorate or post-doctorage degrees.


About 300 awards of $2,500-$10,000 would be made each year through a statewide lottery system. 


The program would be aimed at first-time homebuyers, and grants would have to be used to cover closing costs or down payments.


 Those receiving the funds would have to commit to living and working in Ohio for at least five years after earning degrees; liens placed on homes would provide a means for the state to recoup grant funds.


The legislation was one of the priority bills for the Republican-majority Senate.




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2.
    Posted by perduem1 April 3, 2009
vydunas, the legislature robs them blind and restricts what they can do? What do you mean?

Last I checked, college was voluntary, picking your course of study was voluntary, and looking for financial assistance was voluntary (scholorships, loans, etc). The legislature does not restrict what curriculum you take....yet, our socialist progression may change that.

Ohio blocks opportunity by having one of the highest college tuition rates in the country, they block opportunity by ignoring a court ordered change to school funding, and they block opportunity by high taxes.

You bring up a question, not answered due to the amount of space the article takes up...what are all the restrictions of this program? That being said, if someone signs an agreement for subsidized home mortgages (read taxpayer money..yours and mine), and then moves...well, I want my money back!

1.
    Posted by Vydunas April 3, 2009
Instead of bribing grads to stay here, why doesn't the legislature quit robbing them blind and restricting what they can do? People leave the state because there is more opportunity elsewhere. So quit blocking opportunity here!

I'm not even sure how much of an incentive this would be. It has been pretty easy (maybe not now) to get a no-money-down mortgage if your credit is at all good. And what if you get a job in Ohio and your company wants to promote you out-of-state?

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