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Blunt scales back on MOHELA plan

By AP/KWMU

Jefferson City, MO. – Missouri Governor Matt Blunt is scaling back his latest plan to finance a university construction spree with the proceeds of Missouri's student loan agency.

Blunt spokesman Spence Jackson tells The Associated Press that the $450 million plan outlined just a few days ago will be trimmed to $350 million.

The move is intended to ensure the financial stability and support of the Missouri Higher Education Loan Authority.

Jackson says the extra $100 million was not needed for campus construction projects.

He says the cooperative agreement involving MOHELA, the state, and the University of Missouri also will be amended to specifically list the projects.

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