JEFFERSON CITY — Missouri's college loan authority has set aside about $30 million in case it's needed to help pay for state scholarships next school year.
The Missouri Higher Education Loan Authority provided a similar amount to the state this school year to offset part of Gov. Jay Nixon's cut in the Access Missouri scholarship program.
Agency Executive Director Raymond Bayer Jr. said Wednesday the loan authority board has reserved an additional $30 million for the scholarship program during the 2011-12 school year. He says Nixon's administration has indicated the money might be needed.
The Access Missouri program is the state's primary scholarship based on financial need.
Because of funding cuts, students this year are receiving less than the amount called for under state law.