Apr

15

Money Lust

April 15, 2006 |

We haven’t covered this before, but there is another mess brewing in the General Assembly. After years of devastating budget cuts for higher education, Republican legislators are caught between constituents’ desires for better colleges and their own vows to never raise taxes under any circumstances. So, many were delighted when Governor Blunt suggested selling MoHELA, the Missouri Higher Education Loan Authority, and using the proceeds to give higher education a $400+ million boost. Proposals range from money for life sciences labs to scholarships and professorships.

MoHELA is a little known but vital piece of the state’s higher education system. It’s one of the most successful state loan agencies and provides Missourians with some of the most affordable student loans in the country. That fact is especially important given the drastic tuition increases that have resulted from plummeting state support.

The proposal to sell MoHELA set off a shit storm around the state. The agency’s director was ousted for questioning the scheme. Rumors surfaced about secret deals between the Governor and Sallie Mae, which recently sent a lobbyist in Jeff City for the first time. Questions about the very legality of selling the agency persist. And now legislators are salivating over the prospect of such a huge chunk of “free” money becoming available. With everyone’s hand dipping into the till, the amount allocated for scholarships, professorships, and research drops almost daily.

There’s no telling where this one is going, but the mess is sure to deepen as this pot of gold lets the General Assembly avoid any real work for another year.


Comments

2 Comments so far

  1. worstweatherever on April 18, 2006 7:52 am

    wow i hadnt heard about this before. things have been GREAT under Blunt havent they?

  2. AeroSquid on April 18, 2006 11:19 am

    worst. governor. evar.

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