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Study Says Ohio's Public Universities Contributed $42 Billion To Economy

Ohio State University's William Oxley Thompson Library.
Ohio State University
Ohio State University's William Oxley Thompson Library.

A coalition of Ohio's public universities is touting a study that says income from schools, their students and alumni adds up to $42 billion pumped into the state’s economy.

The Inter-University Council of Ohio says a public university student ends up making more than $4 for every $1 spent on tuition.

The group’s Bruce Johnson highlights that state taxpayers see a more than 8 percent return on investment for funding public universities. Johnson says the state sees the biggest losses when money goes to a student who ends up dropping out, so he’s arguing for increased funding in specific areas.

“Make it easier for the students who are most financially at risk, that if their car breaks down or they had a hard time making rent last month all of the sudden they drop out and they don’t come back and those are the students that need the most support,” Johnson says.

Sen. Randy Gardner (R-Bowling Green), chair of the Senate Finance Higher Education Subcommittee says this will be an important study to keep in mind as they reevaluate college funds.