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.