Governor unveils new MOHELA plan
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Governor unveils new MOHELA plan

Date: August 28, 2006
By: Hillari Duthoo
State Capitol Bureau

Intro: Questions about the latest plan to sell part of the state's college loan program are being raised by  Missouri's top Democrat.

 

 

 

According to the plan, use of money from loan sales would need no legislative approval.

And that's being met with some opposition from top state democrats. 

With the new proposal, revenue from college loan sales would travel first from MOHELA, then through the Missouri Development Finance Board and *then* on to the schools.  

Those in favor of the plan in it's newest form, one of them House Speaker Rod Jetton, say that adding this middle man makes the process of selling college loans legal.

 

Actuality:  JETTON1.WAV
Run Time: 00:20

Description: "There was some concerns on without the legislature approval if MOHELA could do that I think that's when the attorneys looked at this and came up with the conclusion that if it would go from one non-for-profit entity, which MOHELA is, to another, which the Missouri Developement and Finance Board is, then it would be legal to give the money straight to the universities."  

 

The legislature killed the original proposal last May, due in part to discrepancies in how much money to allocate to existing scholarships funds.

From the state Capitol, I'm Hillari Duthoo.


Intro: Democrats raise questions about Blunt's new MOHELA proposal.

Hillari Duthoo (DOO-thoh) has more from the state Capitol.

RunTime:
OutCue: SOC

Democratic party spokesman Jack Cardetti says he was surprised to find out that the sale of part of the state's college loan authority might go through legally.

He says that originally, the MOHELA board told the governor it was hesitant to go forward with anything that didn't have specific legislative approval.

Democrats also expressed concern over the way universities would money. 

The new plan, the agency, who finances economic development projects, will serve as a conduit for revenue from loan sales between MOHELA and the schools.

House Speaker Rod Jetton says this move eliminates any issues about the legality of selling college loans.

Actuality:  JETTON1.WAV
Run Time: 00:20
Description: "There was some concerns on without legislative approval if MOHELA could do that.  I think that's when the attorneys looked at this and came up with the conclusion that if it would go from one non-for-profit entity, which MOHELA is, to another, which the Missouri Development Finance Board is, then it would be legal to give the money straight to the universities." 


 

Blunt's original proposal failed in the House during the final hours of the last legislative session.

From the state Capitol, I'm Hillari Duthoo.