Page 4 University Daily Kansan Wednesday, Jan. 14, 1950
THE NATIONAL DEFENSE STUDENT LOAN PROGRAM
PURPOSE
"To stimulate and assist in the establishment at institutions of higher education of funds for low-interest loans to students in need thereof to pursue their courses of study in such institutions."
AMOUNT AVAILABLE
Of the $6,000,000 appropriated by Congress to date, $97,508 is available to Kansas colleges and universities. The initial allotment to the University of Kansas is not expected to exceed $35,000—$40,000. However, additional appropriations are anticipated at subsequent dates.
The University has applied for $100,000 for the spring semester, $10,000 for 1959 summer school, and $250,000 for 1959-60. The amounts which may be received through the application are not known.
ELIGIBILITY
Full-time students, married or single, graduate or undergraduate, in good standing are eligible for loans from the Program.
PREFERENCE
Preference is to be given to students with "a superior academic background who express a desire to teach in elementary and secondary schools," and to students whose academic background indicates a superior capacity or preparation in science, mathematics, engineering, or a foreign language." "Superior students" are defined as those in the upper $25\%$ of their high school graduating classes, or those who have a minimum grade point average of 2.0 in University work.
While such students are to be given preference, all full-time students in good standing are eligible to borrow.
MAXIMUM LOAN
The maximum loan to one borrower is $1,000 in one academic year, or $5,000 in total. In practice, loans are expected to be substantially less than the maxima permitted by the law. Existing obligations to other loan funds at the University cannot be transferred to the Program. Loans will be granted only for normal and current educational expenses.
TERMS
Loans will be without interest until one year after graduation after which time the rate will be three per cent per annum on unpaid balances. Repayment of principal is to be 10 per cent per year, beginning one year after completion of training and military service. Earlier repayment is permissible and encouraged. Co-signers will be required of all borrowers under 21 years of age.
BASIS OF LOANS
All loans will be based on financial need. All resources available to borrowers will be taken into account by the Loan Committee, which will review and approve applications, to determine the amounts for which applicants are eligible.
APPLICATIONS
Application forms may be obtained at the Office of Aids and Awards, 222 Strong Hall. Normally, applications will be processed as far in advance of the beginning of a new semester as is possible, or, if made during a semester, within two weeks after filing. Only those application forms on which all requested information is given will be considered by the Committee.
CANCELLATION PROVISIONS
The loan, and the interest thereon, of any borrower who serves as a full-time teacher in a public elementary or secondary school will be cancelled to a maximum of 50 per cent, at the rate of 10 per cent of the amount of the loan plus interest, for each academic year of service.
LOYALTY OATH AND AFFIDAVIT
Each borrower must sign an affidavit that he does not believe in, and is not a member of an organization that believes in or teaches the overthrow of the United States Government by force or violence; and subscribe to an oath of allegiance to the United States of America.
FOR FURTHER INFORMATION, INQUIRE OF THE OFFICE OF AIDS AND AWARDS, 222 STRONG HALL
(This Advertisement Is Sponsored by the Kansas University Endowment Association as a Service to KU Students)