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Governor to announce sale of student loan program

January 25, 2005
By: Dustin Blanchard
State Capital Bureau

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Governor Blunt is expected to announce a major change in state higher education.

Dustin Blanchard has more on the Governor's plan from the state Capitol.

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Governor Blunt briefed lawmakers on his plan to sell MOHELA, the state's student loan program.

According to documents provided by Senate democratic leaders, Blunt plans to sell the program -- for about 400 million dollars.

300-million dollars would go toward capital improvements at universities.

Blunt has not confirmed the plan, but says he's exploring all options.

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Contents: "If there is a structure that provides greater benefit to students and the colleges and universities, we should explore that."

Some Missouri Democrats say they fear the transfer of the non-profit loan program to a private company might lead to higher loan rates for students.

From the state Capitol, I'm Dustin Blanchard.