Section 3345.0210 - Financial cost and aid disclosure form for students(A) As used in this section: (1) "Community college" has the same meaning as in section 3333.168 of the Revised Code.(2) "Qualifying student" means a newly admitted full-time student who is seeking a degree.(3) "State university" has the same meaning as in section 3345.011 of the Revised Code.(B) Beginning one year after the effective date of this section, each state university shall, prior to the student decision deadline to accept admission from a university, provide a financial cost and aid disclosure form to a qualifying student with the student's initial financial aid packet. The form may be provided electronically and shall be based on the template developed or approved under division (E) of this section. The form shall not exceed one double-sided page in length when it is printed.(C) The university shall include all of the following information in the form: (1) Costs associated with attendance including all of the following: (a) General and instructional fees;(b) Room and board, or a reasonable estimate of room and board if the qualifying student has not selected a room and board plan;(c) Special fees that the state university charges at the time the form is created.(2) The qualifying student's aggregate cost of attendance, including the instructional, general, and special fees and room and board;(3) All available sources of financial aid offered by the state university for which the qualifying student would be eligible including all of the following: (a) Any grants and scholarships the state university is aware of and that it offers, including a description of any requirements for maintaining that eligibility;(b) Federal student loans, including federal direct subsidized and unsubsidized student loans;(c) Work study programs, including a description of any requirements for maintaining that eligibility.(4) The qualifying student's expected net cost of attendance after the student's aggregate financial aid, including the student's grants, scholarships, loans, and work study programs, is applied to the student's aggregate cost of attendance;(5) The qualifying student's expected monthly education loan payment upon graduation based on the student loans described in division (C)(3)(b) of this section;(6) The income range between the twenty-fifth and seventy-fifth percentiles for all of the following: (a) The state university's most recent cohort of graduates;(b) The state university's cohort of graduates who graduated five years prior to the qualifying student's admission to the university;(c) If the qualifying student has declared a major or enrolled in a particular school at the state university, the university shall include income ranges for graduates who had that major or were enrolled in that school.(D) Beginning one year after the effective date of this section, each community college shall provide a qualifying student a financial cost and aid disclosure form with the student's financial aid award letter. The form shall be based on the template developed or approved under division (E) of this section. The form may be provided electronically and shall not exceed one double-sided page in length when it is printed. (1) A community college shall include the information described in divisions (C)(1) to (5) of this section in the financial cost and aid disclosure form. Nothing in this section shall be construed to prohibit a community college from providing financial counseling, including advising students on expected monthly loan payments for total loan amounts a student may borrow.(2) A community college shall provide a qualifying student, with the student's acceptance letter, a link to a readily available page on the college's web site that contains information on the income ranges described in division (C)(6) of this section.(E) The chancellor of higher education shall develop a financial cost and aid disclosure form template or approve an existing alternative that addresses the information described in division (C) of this section. The chancellor shall develop or approve the template in consultation with the United States department of education and financial aid directors from state institutions of higher education to ensure alignment with the United States department of education's college financing plan and other federal financing tools.Added by 135th General Assembly,SB 94,§1, eff. 10/24/2024.