Want to buy a first home? Grant could help grads
February 18, 2009
Bill aimed at easing effects of ‘brain drain’ in Ohio
Republicans who control the Ohio Senate have placed a bill that could offer some college graduates a grant to help them purchase their first home as one of their top legislative priorities.
Senate Bill No. 5, which was introduced by state Sen. Steve Buehrer, R-Delta, has a measure that would allow anyone who has attended college in Ohio or who graduated high school in the state and attended college out-of-state to apply for the grant. The bill was introduced to the Senate as a lottery where 300 applicants will be chosen to receive the grant.
“We continue to hear about the great ‘brain drain’ here in Ohio and how our best and our brightest, which are basically our college graduates, are fleeing the state at an alarming rate,” Buehrer said. “That tells me they are seeing better opportunities somewhere else.”
The bill is designed to give students with an associate’s degree $2,500, bachelor’s degrees $5,000 and post-graduate degrees $10,000. Graduates will have 60 days to apply for the lottery after graduation. Those picked will then have 12 months to use the grant toward their first home purchase. Lottery winners must also agree to live in the state for no less than five years.
Buehrer said the program is an incentive to people who may have two job offers, one in Ohio and one in another state. He said he hopes people will think staying in Ohio will give them a better opportunity because they may be eligible to receive help with buying a home.
“It is a concern because if we have a better educated population, then we would be in a better position to attract jobs and employers who need smart minds as their employees,” Buehrer said.
Buehrer said he is looking for $2 million dollars in funding. He said he understands if all 300 applicants have post-graduate degrees it would cost more than the funding allocated, but that would be a problem he would like to have. He said more funding would be found if that were the case, and no eligible lottery winners would be turned down.
Kim Wheeler, Buehrer’s legislative aide, said a similar bill has been passed in Louisiana to promote people to return after Hurricane Katrina.
Wheeler said the bill has been referred to the finance committee, which is working on the state’s budget. Buehrer said with the state’s budget being debated, this will be the best opportunity to find the funds and insert them into this bill’s budget.
The bill has to first go through debate in the Senate and, if passed, will be sent to the House to be reviewed. If it also passes the House, it will then be sent to the governor. Wheeler said this could take up to two years. If the governor signs the bill, it will be implemented as a law within 90 days.
Buehrer said he is optimistic some action will be taken within the first six months of this year.
“We have to create a climate where more jobs and more opportunities are going to come to Ohio,” Buehrer said. “If there are more opportunities here I think more young people will stay and if there isn’t they are going to continue to flee to other states.”
Contact public affairs reporter Elizabeth Laubscher at [email protected].