The Ohio state legislature will vote July 30 on a proposal from Gov. Ted Strickland to transfer control of the Ohio College Advantage plan from the Ohio Trust Fund Authority to Ohio Board of Regents Chancellor Eric Fingerhut.
According to current Ohio Trust Fund Authority member Richard Norman, such a transfer could prove harmful to both the state's tuition fund and all who have stake in it.
Norman is a former Miami University senior vice president for finance and business services and treasurer who currently serves as chairman of the Ohio Trust Fund Authority board of directors.
He said he feels much disdain over the possible power shift that would occur should the state's tuition fund be placed solely in the hands of Fingerhut.
"Because an account holder who has a 7-year-old child is building up money tax exempt, and those funds are handed directly to the Authority board, if voted upon, (Fingerhut) would be responsible for making all decisions regarding the investment of that money," Norman said. "It would be extraordinary to find someone who could do all that."
According to the Ohio Board of Regents, Fingerhut was not only appointed by Gov. Strickland as the seventh chancellor of the Ohio Board of Regents, but also is the first in that position to become a member of the governor's cabinet. While he faces much skepticism regarding his ability to independently lead the Ohio College Advantage plan, Fingerhut said he remains optimistic about his pursuits.
"Currently, the Trust Fund Authority is not performing at the correct level," Fingerhut said. "The governor and I want to combine the Trust Fund Authority with the Ohio Board of Regents to make education more accessible for Ohioans."
However, some disagree with notions that the current system is broken at all.
"I like the set-up the way it is," State Rep. Tim Derickson (R-Oxford) said. "I do believe they (Trust Fund Authority) are making progress … they are accomplishing the goal of making college more affordable for many Ohio families."
Though Fingerhut said he was satisfied with the progress he believes to have already been made from the bipartisan decision to make the chancellor part of the governor's cabinet, both Norman and Derickson said they see a proposed merger between the Board of Regents and Trust Fund Authority as stifling to democratic diversity.
"It concerns me quite honestly to narrow the (Trust Fund) authority down to one position," Derickson said. "It leaves out the debate that is needed for something like this, and limits ways to improve."
Norman said he believes by giving the chancellor complete control of Ohio's tuition funds, the diverse voices currently existing within the Ohio Trust Fund Authority board will ultimately be rendered powerless.
"The board currently has representation from two members of the Ohio House of Representatives, two members of the Senate, two from the Board of Regents and two of the governor's personal appointees," Norman said.
Derickson said he thinks "more minds work better than fewer."
Yet, according to Fingerhut's spokesman, Michael Chaney, should legislation approve the proposal, the current Authority Board would still be granted a great deal of input regarding decisions made about Ohio's tuition fund.
"The basis for the proposal is the growth of investments that have occurred since the chancellor joined the governor's cabinet two years ago," Chaney said. "Given the success that has already taken place, it makes sense to make the chancellor the primary vehicle for higher education."
Chaney said the current Trust Authority board would still exist, but rather as an advisory board to the chancellor.
While Fingerhut said he respects all of his opponents a great deal, he remains dedicated to the governor's proposed plan to move control of Ohio's tuition savings program into his hands.
"We can do better by making a better set of interconnected vehicles for Ohioans to make a college education more affordable," Fingerhut said.
Having addressed the House and the Ohio Trust Fund Authority concerning the proposed revisions to the chancellor's job description, Fingerhut said he has encountered some political difference, but has experienced rather "generally good feedback overall."
Although many challenge Fingerhut's confidence, Derickson said he does not question the chancellor's commitment to higher education.
"I have met with (Fingerhut) and I admit that I was impressed," Derickson said. "His focus is obviously on education. But my concern is still with lessening input. Diversity leads to good decisions."
