Public colleges and universities in Missouri received welcome news Wednesday when Governor Jay Nixon submitted an amendment to restore $40 million worth of funding to these institutions.
The amendment came after Nixon’s original budget stirred up controversy over higher education funding. The original budget included an approximate 12.5 percent cut in higher education funding, amounting to approximately $106 million of cuts.
The new money will come from a settlement between the state attorney general and the nation’s five largest mortgage banks over flawed and fraudulent foreclosure practices, according to a release from Nixon’s office. The state is expected to receive $140 million from the settlement, $40 million of which Nixon has allocated to higher education, the release states.
Throughout the state, groups have been protesting the budget, including the Missouri Students Association. MSA passed a resolution against the cuts and has been collecting signatures in the Student Center and online to voice student displeasure with the proposed budget.
Nixon met with the chancellors of Missouri’s two-and-four year universities Thursday to explain the amendment, according to the release.
“My administration remains committed to working with our colleges and universities to make higher education more affordable and accessible for Missouri families," Nixon said in the release.