dcsimg
You are here:

Mortgage Help for Ohio College Grads

The Ohio Housing Finance Agency has been given the green light to develop a program providing mortgage assistance to new college graduates, says a report in the Cleveland Plain Dealer.�� The OHFA is a public/private agency that is headed by a board of trustees mostly appointed by the governor.�� The agency's mission is contributing to the development of affordable housing; this particular initiative is aimed at keeping recent college graduates in Ohio.

Many of the details on the initiative have yet to be worked out, but it has been announced by the agency due to the recent passage of a funding bill signed by Governor Ted Strickland a week ago.�� The "Grants for Grads" program will provide mortgage assistance to college graduates from a public or private university or from a college in Ohio who agree to stay in Ohio for five years after graduation.�� The mortgage assistance is available to all students who graduate with a college degree at the associate's level or higher.

The mortgage assistance comes in the form of a loan that becomes a grant after five years of residence.�� The available grant money would provide up to three percent of the home's value, cash to be put towards the up-front costs of acquiring a home in the form of an unconventional loan.�� If the resident moves within a year, the entire loan must be repaid.�� If the move occurs after three years, 40% of the loan must be repaid.�� After five years, the entire loan is forgiven.�� Application for the grant must be made within eighteen months after graduation.

The legislation to fund this program was prompted by a survey showing that seventy nine percent of Ohio's college students from out of state plan to leave the state after graduation.�� More telling was the survey result showing that fifty one percent of the native Ohioans currently enrolled in college intend to depart after graduation.�� Ohio is one of many states where the sensitivity about higher education currently emanating from Washington has taken hold.�� The state ranks thirty eighth in the country for residents with college degrees.

Along with affordable housing for young people, another issue that is drawing constant press attention is the cost of attending college.�� Students that graduate with heavy loan obligations are generally not in a position to attempt the purchase of a home.�� The federal government is taking steps to lighten the burden of college loans; the Grants for Grads program may those with a new degree build some equity while working at retiring their college debt.

Search Schools

      
Matching School Ads
  • Full Sail University - Online

    Push Your Creativity To The Next Level

    Programs

    • Graphic Design, Bachelor of Science (Online)
    • Internet Marketing, Master of Science (Online)
    • Music Production, Bachelors of Science (Online)
    • More...

    Location: Online

    Full Sail University - Online Request Info »
  • Ashford University

    You've found Ashford University, where school comes to you. Earn your bachelor's or master's degree online.

    Programs

    • AA/Early Childhood Education
    • BA/Early Childhood Education Administration
    • BA/Education Studies
    • More...

    Location: Online

    Ashford University Request Info »
  • Platt College

    Turn your talents into a career at nationally recognized and accredited Platt College.

    Programs

    • Veterinary Technology Alternate Route - Certificate
    • Respiratory Therapy
    • Veterinary Technology - Associates
    • More...

    Location: Online

    Platt College Request Info »
  • Capella University

    An accredited online university, Capella University offers bachelor’s, master’s/MBA, doctoral, and certificate programs designed to take you to the forefront of your profession.

    Programs

    • DBA - Global Operations and Supply Chain Management (ACBSP-accredited)
    • EdS - Teacher Leader in Digital Transformation
    • MS - Addiction Studies
    • More...

    Location: Online

    Capella University Request Info »
  • University of San Francisco

    If you want to make the world a better place, start at the University of San Francisco. Our 21st-century mission to create a more humane and just world comes alive in our diverse learning community and is broadened by our global orientation. You are challenged to reach higher standards and to use your education to promote justice and serve the common good. At the University of San Francisco, youll find the excellence inherent in an institution established over 150 years ago, and inherent in nearly five centuries of Jesuit education.

    Programs

    • Online Associate Degree to Master Degree Nursing program
    • Online Bachelor Degree to Master Degree Nursing program
    • Master of Public Administration
    Location:
    San Francisco: 2130 Fulton St, , San Francisco CA
    University of San Francisco Request Info »
  • Allied Real Estate Schools

    As home sales increase, you can be ready to launch a new career. Allied’s real estate programs provide the perfect way to start a professional career - one with unlimited opportunity! Put yourself at the forefront of the real estate field as a salesperson, broker or appraiser.

    Programs

    • California Real Estate License
    • Virginia Real Estate License
    • Nevada Real Estate License
    • More...
    Location:
    Laguna Hills: 22952 Alcalde Drive, Laguna Hills CA 92653
    Allied Real Estate Schools Request Info »
  • Concordia University - New York

    Concordia College-New York M.S. Degree Programs Online

    Concordia College-New York offers accredited, innovative graduate degrees online to help you advance your career and become a transformative leader.

    Programs

    • M.S. in Digital Marketing
    • M.A. in Digital Media
    Location:
    Bronxville: 171 White Plains Road,, Bronxville NY 10708
    Concordia University - New York Request Info »
  • University of Southern California

    One of the world's leading private research institutions, the University of Southern California (USC) was founded in 1880.

    Programs

    • Online Master of Management in Library and Information Science - Urban Public Librarianship
    • Online Master of Management in Library and Information Science - Academic Librarianship
    • Master of Public Administration
    • More...
    Location:
    Los Angeles: , Los Angeles CA
    University of Southern California Request Info »
  • Norwich University - Online

    Earn your Master's degree online from Norwich University.

    Programs

    • Master of Public Administration Online
    • Master of Arts in International Relations Online
    • Master of Civil Engineering Online
    • More...
    Location:
    Northfield: 158 Harmon Dr,, Northfield VT 05663
    Norwich University - Online Request Info »
  • Argosy University

    Welcome to Argosy University

    Argosy University offers doctoral, master's, and bachelor's degree programs to students through its eight colleges:  College of Behavioral Sciences, Graduate School of Business and Management, College of Education,  College of Health Sciences, College of Arts and Sciences, College of Creative Arts and Design, College of Clinical Psychology and Western State College of Law at Argosy University as well as certificate programs in many areas.

    Programs

    • Business Administration (AS) (Online)
    • Psychology (BA) (Online)
    • Business Administration - Accounting (BS) (Online)
    • More...
    Location:
    Phoenix: 2233 West Dunlap Ave., Phoenix AZ 85021
    Argosy University Request Info »
  • Matching School Ads

    Quick School Search

    College & Career Search Tools

    • Careers: Unsure about your career path? Study profiles of hundreds of professions.

    • Interviews: Professors and deans sit down with our team to give you unique insights on college life.

    • Military Education: Find only Military friendly online schools and campuses.

    • Student Reviews: Know before you go. Read student reviews on over 2000 accredited colleges. Write your own experience.