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Nixon proposes $40M for colleges

Nixon proposes $40M for colleges

February 10th, 2012 in News

Lincoln University President Carolyn Mahoney said Gov. Jay Nixon's plan to add $40 million to his higher education budget is a good thing.

"Currently, Higher Ed is slated for a 12.5 percent budget cut," she said Thursday afternoon, "and he has reduced that original ... cut to what I calculate to be a 7.87 percent cut."

Nixon told reporters and editors at the Governor's Mansion on Thursday afternoon the exta money is coming from Missouri's part of a national settlement with five banks, which he called "the nation's largest mortgage lenders."

He applauded Attorney General Chris Koster's efforts to keep Missouri involved in the settlement negotiations over the last 18 months.

Under the governor's budget announced last month, LU would get nearly $2.43 million less than it's receiving in the current, 2011-12 state budget.