Forever Buckeyes Welcomes Ohioans Home 2

“Once a Buckeye, always a Buckeye” was the thinking of the Ohio Department of Higher Education (formerly the Ohio Board of Regents) and the Ohio General Assembly when they created the Forever Buckeyes program in 2011.

Forever Buckeyes is a provision within the budget of Fiscal Year 2012-2013 that extended the in-state tuition rate to graduates of any public or private Ohio high school who relocate and then return to Ohio, establish residency, and enroll at a public institution of higher education. The program only applies to students who were Ohio residents at the time of their high school graduation. The program does not apply to students who received GEDs.

Forever Buckeyes eliminates the yearlong time frame that it typically takes to establish residency (for purposes of receiving in-state tuition) and applies in-state tuition rates to these students on their first day of class. The Forever Buckeyes initiative welcomes home former residents who joined the military and return to make Ohio their home, students who went to school out of state and return to complete a graduate degree, or students who went out of state to start a degree but who later decide to return to Ohio to complete their degree. The Forever Buckeyes initiative applies to both graduate and undergraduate degrees.

Forever Buckeyes background

Forever Buckeyes can trace its roots back to the release of the Strategic Plan for Higher Education, which was created by then-Chancellor Fingerhut in 2008. The program was meant to help the State of Ohio grow and prosper by raising the education level of its population. As stated on page 9 of the Strategic Plan, “The goal of this 10-year strategic plan is to raise the educational attainment of our state each year, and to close the gap between Ohio and competitor states and nations. To accomplish this goal we must do three things: 1. Graduate more students. 2. Keep more of our graduates in Ohio. 3. Attract more degree holders from out of state.”

When the new Governor and new Chancellor took office in 2011, Ohio was in slow recovery from the worst economic recession since the Great Depression. The new Chancellor, Jim Petro, wanted to leverage higher education as a development tool to spur economic growth.

“If our economy is to grow, we must do everything can to attract and retain students of all ages to Ohio,” said Chancellor Petro.

To attract the former students back home, Ohio eliminated the year it would take returning residents to establish residency to receive in-state college tuition. The Forever Buckeyes initiative would also play into Chancellor Petro’s Complete College Ohio Report, which aimed to “increase the percentage of Ohio adults with a degree or certificate,” by lowering the financial burden for students returning to Ohio to earn a degree or certificate.  A figure released by the Board of Regents said that, "for every percent we move up (in number of Ohioans with bachelor’s degrees), it means economic activity growing the next year and for each year thereafter (by) $2.5 billion dollars.” 

Cost savings with in-state tuition

The cost to attend a public college or university in the state of Ohio varies depending on the institution and so does the cost difference between in-state tuition and out of state tuition. The difference is called the nonresident surcharge. The surcharge can vary by as little as $30 for a small community college or as much as $20,000 a year for a more expensive university. Nonresident surcharges are applied to both graduate and undergraduate education and are added onto the tuition amount.  

Comparison of several Ohio universities tuition expenses

Institution

Tuition In-State Undergraduate*

Tuition Surcharge Undergraduate

Tuition In-State Graduate School**

Tuition Surcharge Graduate School

Bowling Green - Main

$11,201

$7,988

$10,689

$6,395

Miami – Main

$14,647

$18,580

$14,088

$17,389

Ohio State – Main

$10,226

$20,016

$12,425

$22,504

Toledo

$9,671

$9,360

$15,427

$10,337

Cincinnati State CC**

$4,489.20

$4,759

N/A

N/A

Owens CC**

$4,130

$4,564

N/A

N/A

Rhodes State College**

$4,084

$4,084

N/A

N/A

Washington State CC**

$4,470

$30

N/A

N/A


Forever Buckeyes has the potential to save returning Ohioans a substantial amount of money. When looking to reestablish residency, for the sake of tuition, it is best to talk with a residency officer at the institution to which you are applying. Here’s a link to school-specific information for many schools in the Forever Buckeyes program.

While everyone’s path to their education may be different, one thing is certain: Ohio’s tax-free 529 Plan is the simple and portable way to pay for higher education, nationwide. Ohio’s 529 Plan also wants you to know that you can come home again.

*Based on weighted averages supplied by ODHE for 2018-2019 academic year

**Based on information provided by the institutions’ website for 2018-2019 academic year


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529 Short Course: New Parents

5 things every new parent needs to know about saving for education

  1. Why Ohio 529?
    529s are specifically created for higher education savings. Unlike a traditional banking account, a 529 account benefits from tax-free earnings and tax-free withdrawals. For Ohio residents, there is also a state income tax deduction for those contributions.
  2. It’s simple to start.
    You can open your 529 account online in minutes with as little as $25. With ready-made portfolio options, you don’t have to be a financial expert to feel confident in your savings plan choices.
  3. Set it and forget it with automatic deposits.
    The sooner you start saving, the longer your account benefits from the Ohio 529 tax advantages as well as compound interest. Many new parents take their 529 contributions off their to-do list by setting up small automatic deposits from either their banking accounts or paycheck. Also, with our ReadySave 529 app, it’s also easy to track and adjust your account right on your mobile device.
  4. Save for college, career training, and more.
    Ohio 529 can be used at over 30,000 schools of all kinds, nationwide, including universities; community colleges; trade, technical, and vocational schools; certificate programs; and apprenticeships. Your Ohio 529 account can also pay for K-12 tuition at a public, private, or religious school. And, if it’s not needed for educational expenses, you can now roll over your 529 to a Roth IRA.
  5. Others can help.
    It’s easy for family and friends to contribute to your child’s account and receive tax benefits for themselves. You can share your account’s unique Ugift number with others to contribute online without creating their own 529 accounts. Those who live in Ohio will also receive a state income tax deduction for their contributions. Also, you can sign up to have reminder emails sent to you and loved ones for the big milestones in your child’s life.

Hoping to find gold at the end of the rainbow? If you are saving with Ohio 529 CollegeAdvantage, you have the benefit of Ugift with your account, which is savings gold.

Ugift makes it easy for others to give to your Ohio 529 account. With Ugift, you generate a unique code which allows loved ones to contribute to your Ohio 529 savings plan without needing the actual account number. Once they have the Ugift code, your friends and family can visit Ugift529.com to make their online gifts directly to your 529.

When friends and family ask for gift ideas, share that you are saving for your child’s future education with Ohio 529. Then invite them to join in with gift contributions to your Ohio 529 account with Ugift. After all, a gift for your child’s education will truly last a lifetime.

The quickest and easiest way to pass along your child’s Ugift code is with the ReadySave 529 app, which you can access as an Ohio 529 CollegeAdvantage account owner. At the bottom of every page is an Ugift icon. Click on the gift symbol to view your Ugift code which you can send immediately as an invitation via texts, emails, and Facebook/Instagram chats from your phone.

Or log into your account online to view your child’s Ugift code to send to family and friends who would like to give the gift of education.

The Ugift code doesn’t expire. Which means whenever there is an occasion to celebrate­ like baby showers, holidays, birthdays, graduations, and special achievements, your family and friends can give to your Ohio 529 account. And they can choose to contribute as much as they want whenever they want. It can be a one-time gift or recurring gift; all they need is that Ugift code. Your loved ones’ contributions - whether big or small – will add up over the years. Added to the power of compound interest, these gifts will power your 529 savings to cover even more college and career training costs.

An added bonus for gift givers who live in Ohio: They are also eligible to receive a state income tax deduction for their Ohio 529 gift contributions, up to $4,000 per year, per beneficiary.

To learn more about all of the gifting options with Ohio 529 and order cards for special occasions, visit  529 Gift Central.

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