JEFFERSON CITY Mo.
Missouri’s student loan authority has quietly ended a program launched with fanfare three years ago to entice the state’s math and science graduates to work in the life sciences by forgiving part of their student loans.
The Missouri Higher Education Loan Authority claims the program was beset by contradictory problems paltry participation and the potential for abuse because of an overly broad definition of “life sciences” that counted ice cream parlors, a beauty shop and farm supply stores.
But leaders in Missouri’s life sciences sector say the loan authority never aggressively marketed the loan forgiveness program or sought their help. And although it qualified 941 entities as “life sciences” employers, the loan authority’s list still left some people out.
Last month, without any vote by the agency’s governing board, staff at Missouri’s loan authority decided to halt the program. The agency will follow through on its promise to forgive up to $10,000 in loans for the 35 people already involved in the program, but no more applicants will be accepted, said Quentin Wilson, MOHELA’s associate director.
The Missouri Advantage Repayment Incentive Option, or MARIO, was the Chesterfield-based loan agency’s first attempt at a loan forgiveness program, Wilson said.
“We didn’t realize probably at the time how challenging it is to identify a particular industry and target benefits” to those loan recipients, he said.
