Ohio State University is making strong progress on most of the recommendations made by the state to improve student affordability and become more efficient.
Gov. John Kasich formed a task force two years ago to nudge the state’s public universities and colleges to become more financially prudent. It made seven recommendations, including reviewing how non-academic operations can be run more efficiently.
The Ohio Department of Higher Education rated schools’ progress using three grades: strong progress, continued progress needed, and unacceptable.
Ohio State got the highest ranking on five metrics, with progress needed on conducting cost diagnostics on high cost-drivers and providing standard financial literacy to students.
Ohio State has a financial coaching program called Scarlet and Gray Financial, but the task force said it needs more detail about participation requirements and how success is measured.
OSU CFO Geoff Chatas is the chairman of the task force. None of the 13 other universities reviewed by the Ohio Task Force on Affordability and Efficiency in Higher Education scored as well.
Three Ohio business people who were on the governor’s original task force reviewed colleges’ progress: Patrick Auletta, president emeritus of Key Bank; Pamela Morris, CEO of Care Source; and Mark Small, CFO of Cleveland Construction.
Source: Biz Journals