State to Hold MOHELA Hearings

1 decade 2 years 10 months ago Friday, February 03 2006 Feb 3, 2006 Friday, February 03, 2006 9:15:36 PM CST February 03, 2006 in News

The office noted successful public hearings in the sale of Health Midwest in Kansas City and St. Louis University Hospital. Hearings will put everything in the public record about the sale of the Missouri Higher Education Loan Agency.

"When you have a lack of openness, that tends to raise more questions," said John Fougere, press secretary for Attorney General Jay Nixon. "And by having these public hearings, we want to get to the bottom of that and give the chance for the public to do that as well."

Nixon's office wants a fair and open sale and a fair price with the proceeds supporting MOHELA's mission, including providing quality services and benefits for higher education, money for improving higher education and money for the state.

Gov. Blunt's office says Missouri law protects the state and MOHELA in the sale, keeping money separate from other revenue. Blunt's spokewoman says, whatever happens, the sale won't change MOHELA's operation.

"MOHELA has designed a plan that will allow them, within their regular business plan, and in their everyday business process, they often buy and sell loans," explained Jessica Robinson. "They are going to dissolve a portion of their loans and assets in order to provide $450 million to fully fund the governor's Lewis and Clark initiative."

In four years, MOHELA will provide the $450 million to higher education, and according to Gov. Blunt's office, benefits will continue for future generations.

Times and locations of the public hearings will be announced in the next few weeks.

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