Blunt Tours State to Promote Restructuring of Student Loan Authority

Governor Matt Blunt has taken the wraps off an initiative to transform the Missouri Higher Education Loan Authority – MOHELA – into a public-private partnership that would generate $425-Million for Missouri’s higher education institutions. The Lewis & Clark Discovery Initiative would provide a one-time infusion of $300-Million for capital improvement projects at state universities. Approximately $100-Million would go to an endowed scholarship fund, with $5-Million headed to the Missouri Discovery Alliance to attract and retain life science companies and to commercialize existing research. $20-Million would be earmarked for endowed professorships for Missouri research scientists. Embarking on a four-city tour of the state to unveil the plan, Blunt says the proposed sale is conditional on students receiving the same low interest rates and service they currently have with MOHELA.