OH HB667

Establishes the Grow Your Own Teacher Program to award scholarships up to $7,500 per academic year for up to four years to low-income high school seniors and qualifying school employees who commit to teaching at high-need schools for a minimum of four years.

Defines "qualifying schools" as school district buildings identified as high-need where at least 50% of students are eligible for free or reduced-price lunch and are operated by the same district where the scholarship recipient graduated or was employed.

Requires scholarship recipients to complete their four-year teaching commitment within six years of graduating from a teacher training program; failure to do so converts the scholarship into a loan with 10% annual interest that must be repaid.

Provides loan repayment deferrals while recipients are enrolled in teacher training programs, seeking employment, or engaged in qualified service, and reduces the outstanding loan balance by 25% annually for each year of teaching at a qualifying school.

Appropriates $25 million from the General Revenue Fund for fiscal years 2022 and 2023 to the Chancellor of Higher Education to implement and administer the program.