MOHELA financial concerns delay June payment for building plan

Thursday, June 26, 2008 | 10:25 p.m. CDT; updated 4:55 p.m. CDT, Tuesday, July 22, 2008

JEFFERSON CITY — Financial strains prompt Missouri’s student loan agency to delay a scheduled payment for Gov. Matt Blunt’s college construction plan.

The board of the Missouri Higher Education Loan Authority was scheduled to make a $5 million quarterly payment to the state by the end of June. The agency paid an initial $230 million to the state in September. But it delayed part of the March quarterly payment because of financial concerns. On Thursday, the board agreed to pay about $850,000. When combined with the interest earned on previous payments, that should satisfy the March requirement. But the MOHELA board decided it could not afford to pay anything toward the June installment.

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