Pennsylvania Auditor General Jack Wagner says a newly signed bill does virtually nothing to improve the makeup of the 20-member board of the state's student aid agency. Governor Ed Rendell signed the bill Friday, a day after Wagner asked him to veto it.
Wagner had advocated for 8 of the 16 legislators on the board of the Pennsylvania Higher Education Assistance Agency to be replaced by top banking and economic advisers to the governor, college and university leaders and a student.
The new law calls for 4 of the board's 16 legislators to be replaced with private sector experts in the field of education financing. Wagner says such an appointment can only be made if a legislator wants to leave the board.
PHEAA came under fire in recent years for high executive salaries and spending on lavish board retreats.