Ohio Plan Turning Graduates Into Homeowners

If the Ohio Senate has its way, its in-state graduates could also become homeowners. “Grants for Grads” is a $2 million grant program that proposes college graduates receive anywhere from $2,500 to $10,000, depending on level of degree earned, payable toward the down payment on a new home. The recipients must agree to live in the state of Ohio for no less than five years.
To be eligible for one of the 300 grants, students will have to register within 60 days of graduation and have 12 months to use it.
“If we truly want to get our economy back on track, Ohio cannot afford to lose the next generation of skilled workers to other states,” said Sen. Stephen Buehrer, R-Delta, who is sponsoring the bill. “This program will provide an extra incentive for our best and brightest to purchase their own homes and become invested in our communities.”
It’s a win-win for students who might not otherwise have the funds available to purchase a new home and create room in their budgets to pay toward student loans. Also a way to stimulate the housing market in Ohio.
Do you think it’s a plan that could work in other states?