State bond program adds $72 million for college scholarships

The state's bond program for high-tech investment will provide $72 million for scholarships and research grants for Ohio colleges, bringing total state aid for study in those fields to $122 million over the next year, education officials said Tuesday.

The Legislature previously added $50 million in math and science scholarships for each of the two years covered by the budget that took effect on July 1. The state has stepped up aid to higher education to help cover the tuition freeze it ordered for the same period.

Voters in 2005 gave the state the authority to issue $500 million in bonds to fund its Third Frontier Project, which issues grants for high-tech business startups and research projects.

"This proposed joint funding program involves a close collaboration of the Third Frontier Project with the University System of Ohio and guarantees that our research goals are fully aligned with the state's economic development strategies," Chancellor Eric Fingerhut said in a statement.

The scholarships will go to students who excel in math, science, engineering and technology studies.