From Ohio History Central
In 1963, the Ohio government created the Ohio Board of Regents. The board currently consists of nine members, and its purpose is to advise the Ohio governor and the state legislature on higher education issues. The Board of Regents does not have direct control over public or private universities or colleges within Ohio, but it does affect funding and other issues for public institutions through its advice to state governmental bodies. The Ohio Board of Regents does manage state financial aid programs for students, as well as approving new degree programs.