Blunt signs college construction plan into law

Blunt signs college construction plan into law
By: Associated Press
ST. LOUIS, Mo. -- Governor Blunt signed a bill Wednesday financing college buildings with student loan agency money as he embarks on three-day tour to the college towns that will reap the rewards.
The new law takes $350-million over six years from the Missouri Higher Education Loan Authority for dozens of building projects for public colleges and universities.
It also creates a new college scholarship program for students in financial need and puts limits on university tuition increases.
The bill's passage generally marked a victory for Blunt, who worked for more than a year on what he called "an historic higher education plan."
Critics claimed it encourages politicians to raid student loan agency funds for favored projects at the potential expense of low-cost student loans in the future.
Higher ed bill is SB389.
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(Copyright 2007 by The Associated Press. All Rights Reserved.)