Mortgage Crisis Settlement Means $40 Million For MO Universities

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A settlement in a dispute over the housing crisis means more money Missouri. A proposed settlement by states’ attorneys general with the nation’s five largest mortgage banks over foreclosure practices that led to the housing crisis was announced Tuesday. Missouri is to receive more than $140 million in benefits according to Attorney General Chris Koster.

Missouri Gov. Jay Nixon later submitted an amendment to his Fiscal Year 2013 budget that would restore $40 million in funding to Missouri’s public colleges and universities.  That funding would come from the settlement.

Gov. Nixon plans to meet with the presidents and chancellors of Missouri’s two- and four-year colleges and universities on Thursday.