Capstone Wealth Partners

Could free college in Ohio become a Reality?

Reading time: 2 mins

Politicians (better than anyone) know how to tailor their message to their potential voters. One hot topic is the possibility of free college. The state of New York announced their free college tuition plan in 2017. A few other states have free tuition programs with a variety of terms and conditions. (Click here to see a map.) In the state of Ohio, the candidates for governor have touched on the topic of free college, but they haven’t really proposed any firm plans. Let’s take a look at what they have proposed so far.

Currently, Ohio ranks 45th out of the 50 states in college affordability. Not good! Both candidates for governor know this is topic that needs to be addressed. Ohio Attorney General Mike DeWine is running against former Director of the Consumer Financial Protection Bureau Richard Cordray.

The Candidates

According to his election website, Richard Cordray proposes making community college free in Ohio to any high school student who gets in. His website touches on the importance of education in helping our economy. “By 2020, 64% of jobs in Ohio will require at least an associate’s degree, but today, only 37% of our working-age adults have a degree.” He does not provide specifics on how to fund this potentially $60 million per year program however.

In addition, he wants to expand Columbus State’s Preferred Pathways program to other colleges enabling students to easily transfer their credits from CSCC to public 4-year colleges and guarantees admission to those schools. Lastly, Cordray wants to ensure community college students are graduating on time.

Mike DeWine’s election website does not devote a section specifically to higher education priorities. He writes: “He knows that every parent wants their kids to have an opportunity for a solid education, a healthy life that is free of drugs, and a good paying job later in life.” In a newspaper article in April, DeWine focused on closing the “work-skills gap” and “exposing high school students to different careers and work opportunities, giving them mentors and emphasizing career centers and technical schools.” Free community college is an idea he was “exploring.”

How Can Parents Find “Free” College Now?

If you’re reading this, you probably can’t wait until after the election and then even longer until legislation is passed (if it ever is). So, what can parents be doing now to find “free” college?

Read our blog. HAHA! We’re only half joking because the best way to find the best college fit, at the lowest price, is to understand the process. We started writing a weekly blog in May 2015. (We missed celebrating our third birthday!) Here’s a sample of articles that shows what we mean:

Use the search bar on the blog page and type in your topic–taxes, savings, scholarships, loans, military, financial aid, grants, grandparents, 529, home equity, retirement, and on and on. You’ll find a piece that can help you.

Truthfully, parents can’t wait for politicians to make changes that will help us in any significant way. You must arm yourselves with knowledge about making smart college decisions that fit your family best.

About the Author

Picture of Joe Messinger, CFP®

Joe Messinger, CFP®

Joe Messinger, CFP®, ChFC, CLU, CCFC is on a mission to end the student loan crisis one family at a time. He created the innovative College Pre-Approval™ system and has trained thousands of advisors across the country on how to seamlessly guide families through the college-funding maze with confidence and ease.

Messinger is a Co-Founder of College Aid Pro™, the award winning FinTech solution that takes the hassle out of late-stage college planning. A proud graduate of Penn State University, he is also Partner and Director of College Planning at Capstone Wealth Partners, a fee-only RIA.

Joe serves as a member of the Advisory Board for the American Institute of Certified College Financial Consultants (AICCFC) and the NAPFA Foundation College Affordability Project.

He is known as an industry thought leader in the area of college financial planning. He regularly speaks at industry conferences for the Financial Planning Association (FPA), National Association of Personal Financial Advisors (NAPFA), and the XY Planning Network (XYPN). His work has been featured in The Journal for Financial Planning, Financial Advisor Magazine, US News, and Bloomberg to name a few.

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ABOUT OUR BLOG:

Capstone Wealth Partners is a fee-only independent Registered Investment Advisor in Columbus, Ohio. We are financial planners for college-bound families.

The Capstone Blog offers up our best ideas on how to save and pay for college, all while staying on track for a confident retirement.

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