Ohio University students have saved $13 million in the 2018 fiscal year in a statement from Ohio University on Friday.
The savings come from the result of “unique, institutional affordability” that initiatives implemented in fiscal year 2018, according to the report.
Of the $13 million savings, $11.3 million comes from the OHIO Signature Award Program, which are scholarships and grants that balance support for financial need and recognition of achievements and contributions of each student, the report read.
Another $1.637 million was saved by students because of textbook initiatives. It includes the university’s partnership with Top Hat, which saved $1 million for textbooks in the program's first year.
“Without sacrificing standards or quality, our faculty have saved students roughly a million dollars through this effort alone, and this is just one of several strategies we are pursuing for easing the financial burden on students,” Brad Cohen, senior vice provost for instructional innovation, said in the report.
The report also said OU also made an effort to increase the amount of online courses to help with flexibility for students. There are seven new online courses across six colleges for graduate, professional, bachelor’s completion and certificate programs.
OU projected that students could save up to $52.8 million from the 2019 fiscal year to the 2021 fiscal year with $42 million dollars that could be going to scholarships and $10.8 million dollars that would help saving for textbooks.
“Ohio University is committed to providing a high-quality education that is also affordable for our students and their families,” Duane Nellis, OU president, said in the report. “We are continuously seeking innovative ways to serve more students, and I am proud of our efforts, to date, that have helped us realize our mission for access and affordability.”