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Governor to announce sale of student loan program

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Governor Blunt is expected to announce a major change in state higher education.

Dustin Blanchard has more on the Governor's plan from the state Capitol.

Governor Blunt briefed lawmakers on his plan to sell MOHELA, the state's student loan program.

According to documents provided by Senate democratic leaders, Blunt plans to sell the program -- for about 400 million dollars.

300-million dollars would go toward capital improvements at universities.

Blunt has not confirmed the plan, but says he's exploring all options.

Some Missouri Democrats say they fear the transfer of the non-profit loan program to a private company might lead to higher loan rates for students.

From the state Capitol, I'm Dustin Blanchard.