State's higher-education plan takes effect

The state’s new higher education plan creates the Access Missouri Scholarship, which increases funding available for need-based scholarships to $72.5 million, from $27.5 million. The program would provide up to $4,600 in aid to qualified students.

Also in the plan is the Lewis and Clark Discovery Initiative, which directs the state to sell Missouri Higher Education Loan Authority’s out-of-state student loans and send $350 million of that revenue to the Missouri Development Finance Board. The board will distribute $335 million to 25 public universities and colleges for capital improvement projects and $15 million to the Missouri Technology Corp.

Other elements of the education plan include a new requirement for public institutions to submit to their boards any percentage increases in tuition and students fees at least three months before an academic year. If a fee increase is higher than the previous year’s increase, the school must give the board 5 percent of its current year state appropriation, to be deposited in Missouri’s general revenue fund.