Panel Says It Needs Ok for Student Loan Sale

Summary


JEFFERSON CITY - A new wrinkle has emerged in Gov. Matt Blunt's plan to sell millions of dollars worth of student loans to pay for construction on public university campuses.

The Missouri Higher Education Loan Authority Board has notified Blunt that it now believes legislative authority is needed before it can market the loans, which are valued at about $450 million.

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Extract


Panel Says It Needs Ok for Student Loan Sale

"MOHELA has been advised by experienced Missouri law firms that state law does not, as clearly as necessary for a transaction of this magnitude, authorize the transfer and use of the fu...

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