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New MOHELA appointee likely to vote for sale

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New MOHELA board member John Smith (photo from St. Charles School Dist.)

By AP/KWMU

St. Louis, MO. – The newest appointee to the Missouri Higher Education Loan Authority says he's inclined to support the sale of some of the agency's loan assets.

St. Charles resident John Smith is expected to be confirmed tomorrow by the full Senate.

Smith would join the MOHELA board just in time for Friday's meeting. That's when members will take public testimony and reconsider a plan to sell half of the authority's student loans.

The proposed sale would generate $450 million for the state.

Smith says he wants the proceeds to be used to provide the greatest possible benefit to students.

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