Loan Agency May Help College Scholarships

7 years 10 months 1 week ago Friday, June 10 2011 Jun 10, 2011 Friday, June 10, 2011 3:23:15 AM CDT June 10, 2011 in News
By: Associated Press

CHESTERFIELD (AP) - Missouri's student loan authority is poised to provide $30 million for college scholarships for the second straight year.

The board of the Missouri Higher Education Loan Authority was expected to approve the money transfer during a meeting Friday at its Chesterfield headquarters. The agency, which services loans to students from across the country, had set aside the $30 million earlier this year in expectation that it would be needed by the state.

The budget passed last month by lawmakers banks on MOHELA making the money transfer.

The loan authority also provided $30 million last year to help offset a portion of the funding cuts to the Access Missouri program, which is the state's main financial-need-based scholarship.

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