/
University Daily Kansan, August 24. 1981
Loan fraud plagues KU
Despite the efforts of KU's office of financial aid to screen applicants, late payments and fraudulent applications for short-term loans continue to plague the Kansas University Endowment Association.
George Stewart, the Endowment Association's controller in charge of short-term loans, said that the few students who defaulted on their loans made the program more expensive for all students.
The only cost to students for the loans is a 6 percent interest charge that covers losses and administrative costs. The higher rate of interest would drop as well.
"It's difficult for me to understand why students borrow and promise to repay, but then they don't follow through on that promise, especially if they give them a notice before their payment is due," Stewart said.
Based on past experience, the Endowment Association suffered a 4.8 percent rate of loss, Stewart said. He estimated that he had $7,800 on about $2 million in loans.
IF A STUDENT does not pay on the due date and fails to apply for an extension on the loan, the student receives a past-due notice telling him that he cannot enroll again at the University. The records are frozen and the loan has a 14 percent penalty interest charge on it. Stewart said.
If the loan is still not repaid after this, the borrower will receive a letter telling him that the collection will be turned over to an attorney.
On the short-term loan application, the only restrictions on a student is to maintain at least a "C" average, to use credit cards for educational purposes and to repay the loan.
Applications are turned in at the office of financial aid and students are given a personal interview by one of the counselors.
One of the restrictions, that of using the money for educational purposes involved defining what an educational purpose is, he said. On the office's list of priorities are the costs of tuition and books, living and transportation.
"The presumption of this office is that the student is honest," Weinberg said. "We can't bring a student down to see what he spends his money on."
Stewart said that he had suspected some students of using the money for other purposes. "It's in the grey areas of his purpose that abuses occur," he said.
A Kansas City senior, who admitted to misusing the loan, said that he lied on his loan application. The student, who asked that his name not be used, said he borrowed $300 and told financial aid officers that he used it for apartment rent when actually he used it to buy a stereo.
Storm losses increase grants
By TERESA RIORDAN Staff Reporter
Additional financial assistance could brighten the skies for students and their families whose homes or schools are located in recent Kansas summer storms.
Candidates previously turned down for a Pell grant (formerly a Basic Education Opportunity Grant) may now qualify for aid if their financial losses, according to Jerry Rudolph, KU director of financial aid.
Only students who have already applied for a Pell grant may file a supplementary form if their family's financial status was affected by losses from recent storms, Rogers said.
He added that farm families who had incurred crop or equipment losses in areas such as Barton, Pawnee or Douglas counties, which have been delicately national disaster affected primarily affected by the Pell increases.
Students who lost only stored furniture or clothing in the June 19 tornado that swept through Lawrence will have to wait for all increases, according to Rogers.
However, they may apply for low-
interest loans from the Small Business Administration until Sept. 14, according to Fred Clark, SBA branch manager in Kansas City, Mo.
In addition, people who suffered damage to their homes during the tornado are also eligible for the SBA loans.
The tornado severely damaged the Gaslight Village mobile home park and the Fort Knox warehouse near the Fort store at 31st and Iowa Streets.
"Anyone having an uninsured physical loss from the tornado may apply for a 3 percent loan if he is able to itemize and document the loss by storage receipts," Clark said.
An applicant may qualify for up to $10,000 for personal property losses or up to $50,000 for home damages. Clark said. The loan, however, will not cover luxury items or non-essentials.
To receive a loan, the applicant must assure the SBA that the funds will be used to restore his property in the weather condition without upgrading.
The loan repayment schedule is based on the individual's ability to pay, according to Clark.
Kansas Power and Light Co. has closed a portion of 19th Street because of repairs that began Wednesday at the 19th Street substation.
According to Fred Bryan, Lawrence division manager of KP&L, 19th Street is scheduled to be open by September 11.
Repairs close portion of 19th Street
KP&L is burying power lines in the substation between Oudsdahl and Stewart streets to upgrade the service system of Kansas and surrounding areas.
"The University has grown and remodeled, added air conditioning, laboratories and other advancements," Bryan said. "The power requirements it needs has grown with these expansions."
19th Street is not completely closed, but drivers cannot turn east onto 19th Street from Iowa Street, and the street can be accessed off from Stewart Avenue to Quadahl Street. Drivers can use 15th and 20th streets as an alternate route.
(formerly the Village Set)
'WHY DO THE HEATHEN RAGE?'
Contemporary Sportswear
for young women
IZOD ** LACOSTE
SWEATERS $24.50
SHIRTS: LONGSLEEVE $17.00
SHORTSLEEVE $16.50
KNEE SOCKS $5.00 and $5.50
922 Mass.
Hrs. 10-5 Mon.-Sat. except 10-8:30 Thurs.
P. O. BOX 405 DECATUR, GEORGIA 30031
Webster says a heathen is "one who does not believe in the God of the Bible." They rage to get rid of God's Word, the Bible, its Laws and Commandments for men. An easy and sure way to get rid of the Bible is to neglect, quit reading and remain ignorant! Chris said: "TO HIM THAT HATH SHALL BE GIVEN, BUT FROM HIM THAT HATH NOT SHALL BE TAKEN AWAY WHAT THEHSE MEETH TO MEAH? 'Fail to use your possessions families and lose them!' Doubtless this explains the loss of the Bible, the Testaments from our schools. It is not just the fault of the Supreme Court and others in high authority, but also on account of the neglect and resulting ignorance of probably a large percent of our citizens who call themselves Christian.
The secret of Luther's great life and power was the result of finding the Word of God and "wastening it more than his necessary food." indeed, he of God had to do this because he was so much a part of it.
How long has your favorite author or columnist or commentator been writing, writing or talking? How much longer do you think he will live? How long have you lived? How much longer upstay and overthrow one "jot or little" of God's Word? Christ said it would be easier for heaven and earth to pass away! Would it not be wise for you, me, and all of us like Job to "ESTEEM THE WORDS OF GOD'S MOUTH MORE THAN YOU KNOW?" LAY IT UP IN OUR HEARTS that WE MIGHT NOT SIN AGAIN HIM?"
Luther said: "THAT THE BIBLE IS GOD'S BAND AND BOOK I PROVE THAT ALL THOUSING THAT HAVE BEEN, AND ARE, IN THE WORLD, AND THE MANNER OF THEIR BEING, ARE DESCRIBED IN THE FIRST BOOK OF THE WORLD, DOES IT STAND TO THIS DAY INFINITE POTENTITY OF THE WORLD, DOES IT STAND TO THIS DAY INFINITE POTENTITY OF RAGED AGAINST THIS BOOK AND SOUGHT TO DESTROY AND UPROOT IT ... BUT THE PREVAILD NOTHING: THEY ARE GONE AND VANISHED, WHILE THE BOOK REMAINS, AND WILL REMAIN FOREVER AND EVER, PERFECT AND ENTIRE, AS IT WAS DECLARED AT FIRST, WHO HAS THIS IT — WHO HAS THIS PROTECTED IT AGAINST SUCH MIGHTY FORCES? ON ONE, SURELY, BUT GOD HIMSELF, WHO IS MASTER OF ALL THINGS."
Security Sale
15% Discount on all security hardware through the month of September.
All types of vehicle lock and ignition service Lock and Hardware Installations
Lock Re-keying and Repair (free estimates)
First Meeting Aug.26
24 hour Emergency Service
Big Eight Room Main Union
Western Sizzlin Welcomes back KU students!!!
Western.Sizzlin Steak House
You'll love our Flamekist Steaks
18 different entrees. One of the biggest and best salad bars in town!
SPECIALS
Sunday and Monday: All the steak, baked potato, salad bar and texas toast you can eat----$7.99.
Wednesday: Senior Citizens Day! 20% off any meal for senior citizens!
Tuesday: Free iced tea or coffee with any meal.
Thursday: Free-one time through the salad bar with the purchase of these great dinners: No.5
or No. 9 Gunsmoke.
Friday and Saturday: Free beverage with purchase of No.1 Steak dinner
"The Sizzlin."
You'll know us by the Jayhawk in the window!
Hours: Sun-Mon 11:00-9:00 Fri-Sat 11:00-10:00
2620 Iowa 843-2550