Higbee, a math teacher and coach at Clinton High School, said he and his wife both work extra jobs to pay the college bills.
OSU officials said there will be an appeals process for students who have to work.
Only 31 percent of OSU students graduate in four years now, and about 60 percent graduate in six years.
“We want to change the culture so students think four years,” said Christie Hawkins, an associate vice president who coordinated the plan.
Students who complete at least 15 hours of applicable coursework each semester can earn most degrees in four years, Hawkins said.
Cutting out those extra semesters eliminates additional expenses for room and board, reduces student loan debt and gets graduates into the workforce faster, she said.
Work on Finish in Four began in the fall and included input from faculty, staff and students, Hawkins said.
Student taking less than 12 hours will continue to be charged on a per-credit-hour basis.