2008 Woodie Awards
MOHELA sale bill moves to Senate
Sarah O'Brien
Issue date: 4/30/07 Section: News
The proposed sale of $350 million of student loans appears to have enough support and momentum to pass the Missouri Senate.
The bill would then go before the state house, and if approved there, would go to Gov. Matt Blunt's desk for final approval. Blunt originally proposed the idea, calling it the "Lewis and Clark Initiative."
UM-St. Louis stands to receive $29.5 million in funds for construction projects.
Despite opposition from Democrats, the sale of the loans, held by the Missouri Higher Education Loan Authority, could be approved before the end of the spring legislative session.
The sale of the loans would provide funding for several building projects for Missouri universities and colleges. Many Democrats oppose the bill because in its current form, as it includes language that would prohibit the funds from going towards buildings that could engage in embryonic stem cell research.
UM-St. Louis Chancellor Thomas George said as it stands, there looks to be enough support to believe the bill will pass all three legislative bodies.
"In my conversations with people [in Jefferson City], it looks as though we are going to get this through," George said.
If passed, the package will feature a couple radical differences. The most notable is the absence of funding provided to UM-Columbia. This is the second cut Mizzou has faced in this process.
Originally slated to receive a third of the loan sale monies, including nearly $85 million for a life sciences building, Mizzou was cut in the second draft of the bill by over $50 million. The cut resulted from an announcement by UM System President Elson Floyd that UM-Columbia would instead use the money for a cancer treatment and medical instruction building.
Blunt, a Republican who supports embryonic stem cell research, went on record as saying he felt the move was a wrong one.
The Current has confirmed that UM-Columbia will not be receiving an allocation. Additionally, UM-Kansas City also will be cut out in the proposed MOHELA loan funding.
The bill would then go before the state house, and if approved there, would go to Gov. Matt Blunt's desk for final approval. Blunt originally proposed the idea, calling it the "Lewis and Clark Initiative."
UM-St. Louis stands to receive $29.5 million in funds for construction projects.
Despite opposition from Democrats, the sale of the loans, held by the Missouri Higher Education Loan Authority, could be approved before the end of the spring legislative session.
The sale of the loans would provide funding for several building projects for Missouri universities and colleges. Many Democrats oppose the bill because in its current form, as it includes language that would prohibit the funds from going towards buildings that could engage in embryonic stem cell research.
UM-St. Louis Chancellor Thomas George said as it stands, there looks to be enough support to believe the bill will pass all three legislative bodies.
"In my conversations with people [in Jefferson City], it looks as though we are going to get this through," George said.
If passed, the package will feature a couple radical differences. The most notable is the absence of funding provided to UM-Columbia. This is the second cut Mizzou has faced in this process.
Originally slated to receive a third of the loan sale monies, including nearly $85 million for a life sciences building, Mizzou was cut in the second draft of the bill by over $50 million. The cut resulted from an announcement by UM System President Elson Floyd that UM-Columbia would instead use the money for a cancer treatment and medical instruction building.
Blunt, a Republican who supports embryonic stem cell research, went on record as saying he felt the move was a wrong one.
The Current has confirmed that UM-Columbia will not be receiving an allocation. Additionally, UM-Kansas City also will be cut out in the proposed MOHELA loan funding.
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