MOHELA wants more control over loan distribution.
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MOHELA wants more control over loan distribution.

Date: February 20, 2008
By: Max Hyman
State Capitol Bureau
Links: SB 967

Intro:  A proposed bill would give MOHELA more control over the way it distributes loans.

Max Hyman (HIGH-man) has more from Jefferson City.

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The bill is sponsored by Republican Senator Rob Mayer and would give MOHELA more money directly from the federal government instead of a lender.

Mayer said he knows that concessions were made by both the Missouri Bankers Association and MOHELA and that he understands the bill is a work in progress.

 
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Description: We sat down with the bankers and the officials there at MOHELA and I think both parties recognize that there needed to be something done and so we urged them to come to some kind of compromise.


The bill proposed would issue ten percent of the federal funding for student loans to MOHELA for distribution to students.

 

Reporting from the State Capitol, I'm Max Hyman, KMOX NEWS.


Intro: A bill would give MOHELA more control over funding for loans but one Senator thinks MOHELA has strayed away from its original mission.

Max Hyman (HIGH-man) has more from Jefferson City.

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OutCue: SOC

No one testified in opposition to the bill, but Democratic Senator Rita Days of St. Louis wants MOHELA to use its money for its original purpose.

 

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The original intent of MOHELA was to provide low interest loans to students who wanted to attend college. It was not intended as a capital proposal to build buildings on the various universities. That's not what it was about.


The bill would put around two hundred million dollars directly in MOHELA's hands from the federal government that would be used for loan distribution.

Reporting from the State Capitol, I'm Max Hyman, KMOX News.


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