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MO House approves MOHELA bill

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By AP/KWMU

Jefferson City, MO – The Missouri House Monday approved a plan to spend most of the money from selling state student loans on university construction projects.

Governor Blunt and the Legislature's Republican majority say selling off some assets held by the Missouri Higher Education Loan Authority (MOHELA) will raise $450 million for the state.

The bill gaining approval Monday is among various proposals for how the proceeds would be spent. A second vote in the House would send the bill to the Senate.

Many Democrats argue that any plan for spending the money is premature because they question whether the loan sale would be legal in the first place.

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