"The Schweitzer administration remains unsatisfied with the oversight over two Montana student loan agencies and supports a bill to open their meetings and require legislative audits," the Helena Independent Record reports. "MHESAC has been caught up in the national credit and liquidity crunch. Auctions for nearly all of the $1.3 billion of auction bond notes previously issued by MHESAC to finance student loans have failed several times since Feb. 11. As a result, its operating costs have gone up by $14 million and it experienced its first net loss in its history. MHESAC is hoping to restructure its financing and is waiting to see what a recently passed federal law will do."