by Andy Chow
College affordability is having a moment in the spotlight in Ohio. The state budget froze tuition costs for two years, and the leader of the state's largest higher education institution is touring Ohio to urge lower student costs.
Ohio State University President Michael Drake says he's on a mission to cut student costs. Part of this mission includes cutting spending by $200 million in the next five years, all while generating another $200 million in revenue. The univeristy is also ecouraging a more expedited education so that students receive their degrees sooner and save money.
After speaking on a college affordability panel in Urbana, Drake said there's a fine line between cutting costs and losing academic value.
"There's a tension between those, so if you cut too much, you lose value," Drake said. "But if you make yourself more efficient, you can also be more effective, and we want to be more efficient, more effective, more affordable, more accessible and more excellent."
OSU's budget is more than $5 billion. State lawmakers issued a challenge to all higher education institutions to cut student costs by 5 percent.