Loan board to vote Wed.

By Jedd Rosche

Published Sept. 22, 2006

Gov. Matt Blunt will not delay the deadline for the Missouri Higher Education Loan Authority Board to vote the approval of the sale of part of its assets, in spite of three board members stepping down in the past three days.

James Ricks, a professor from Southeast Missouri State University, became the third person to step down on Wednesday, joining Marilyn Bush, an executive of the Bank of America St. Louis, and Charles McClain, interim commissioner of Higher Education.

A news release from Blunt's office stated Randy Etter, of Mexico, Mo., will occupy the space vacated by Bush.

MOHELA chairwoman Karen Luebbert wrote a letter asking for the deadline to be extended in order for the board to appoint new members but was unavailable for further comment.

Blunt spokesman Spence Jackson said the governor's goal was to have the MOHELA board vote by its Wednesday deadline.

"It's very high at the top of his priority list," Jackson said.

Jackson said Blunt was in constant communication with the board during the finalizing process.

"The relationship between the governor and MOHELA and the board, in terms of communication, is excellent," Jackson said.

Jackson said the coordinating board for higher education would pick one more replacement for the board before the deadline.

The MOHELA sale, commonly referred to as the "Lewis and Clark Discovery Initiative" by Blunt's office, could bring $390 million to Missouri colleges, $94 million of which would go to MU.