Scholarships take big hit as Nixon slashes spending

Missouri’s budget woes will hit college students, school buses, the state work force, business tax credits and scores of other programs under $301.4 million in cuts announced today by Gov. Jay Nixon. Nixon said the budget passed by the Legislature had to be cut to avoid red ink in the fiscal year that begins July 1.

“None of this is easy,” Nixon told reporters at a news conference in his Capitol office. He said this round of belt-tightening had required him to “punch another hole in the belt.”

Among the biggest casualties: the Access Missouri college scholarship program, which provides needs-based grants.  Nixon whacked $50 million from the $82 million appropriation. While details were sketchy, he said $30 million of that cut would be offset by a new scholarship program being set up by the Missouri Higher Education Loan Authority.

Virginia Young has the skinny at Political Fix.

Bob Priddy was on the scene and we hope to post a bunch of audio here shortly.

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