MOHELA Deal in Doubt With Resignation of Interim Higher Ed Chief

Interim Higher Education Commissioner Charles McClain’s resignation for health reason throws into doubt a vote next week on Governor Matt Blunt’s plan to finance $350-Million in college capital improvements. McClain, as Higher Education Commissioner, is a member of the Missouri Higher Education Loan Authority board. Blunt wants MOHELA to sell off assets to finance the plan. McClain’s resignation is effective Friday. He won’t attend next week’s MOHELA board meeting, which could have voted on the plan, and neither will Marilyn Bush of St. Louis, a senior executive with Bank of America, who, along with McClain, supported Blunt’s plan. Blunt needs four of the seven MOHELA board members to vote for the plan. With two gone, the outcome is uncertain.