14
Friday, September 7, 1979
University Daily Kansan
2.
Borrowing increases with easy loan program
DOUG WAHL
Staff Reporter
More than $1.8 million in Guaranteed Student Loans have been distributed at the University of Kansas during the last two weeks and the number of applicants is to increase, Jeff Weinberg, associate director of financial aid, said yesterday.
Although exact figures for last year were unavailable, Weinberg said they were insignificant compared with the dollar amounts this year.
"Most of the growth has come in the last eight months," he said.
Inflation and easy accessibility, as a result of a new Middle Income Assistance law signed by President Carter, have helped ease the burden from 372 in July 1978, to 784 in July 1979.
making the program the largest loan program at KU.
The Basic Educational Opportunity Grant is the second largest.
Weinberg said the number of applicants had not been totaled for August.
THE GUARANTEED Student Loan Program relies on funds from outside agencies such as banks, savings and loan offices. The agency that treats loans that money directly to students.
These lenders received a 7.5 percent discount from the Treasury Department and a 6. percent allowance from the Department of Health Education and Welfare's office of education finance.
A student pays a 7 percent interest charge on the loan when he begins to pay the principal nine months after graduation.
Weinberg said the guaranteed loan was
unusual in that a student was able to borrow money easily because a financial statement was not required on the form. Only the student's signature is needed.
PREVIOUSLY, parents were required to sign the loan to guarantee that income amounts given were correct.
Weinberg said the Middle Income Assistant, President Carter member, removed the developer's declaration requirement on loan applications and also the need for a parent's signature.
Weinberg said he thought the new law was good for students, but also could be bad.
it is almost too easy to get the loan,
Weinberg said. "A student could be $7,500 in debt and his parents would never know it."
*Undergraduate students are allowed to borrow up to 5,000 over a four-year period. Students are allowed to borrow a total of their undergraduate and graduate study.*
"THE LOAN IS in the student's name, and there is no way the parents are responsible." Weinberg said.
Weinberg said if students had trouble getting loans through a recognized lending institution, they could apply for funds from the Higher Educational Loan Program. He helped in Overland Park, supported student loan recipients, and supported student loans granted to KU students.
Weinberg said many students had been cautioned not to apply for a loan if they didn't need one.
HELP was set up in the fall of 1977 as a last resort for students applying for guaranteed loans. HELP is a private corporation that sells public bonds for funds.
He said institutions that participated in the Guaranteed Loan Program counselled their applicants, but it was up to the students who had applied through HELP.
"We usually ask them whether they really need the money," Weinberg said.
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Dyche Museum plans mask, wildlife exhibits
Although Halloween is more than a month away, the staff of the Dyche Museum of Natural History doesn't think it's too easy to think about masks.
The staff is working on collecting and setting up an exhibit of masks from all over the world. Thomas Wearingen, exhibitor director, said yesterday.
He said the staff hoped the exhibit would open before Oct.13.
Swearingen said masks from Germany, Africa, and North, South and Central America would be included.
Cathy Dwigans, associate exhibit director, said masks would be loaned to the museum by individuals and also staff. Museum's anthropology collection.
The exhibit, which will be displayed in Dyche for about a year, will be produced by the museum staff. Swearingen said.
Most museum exhibits are produced by the staff because the museum does not have funds to buy exhibits, Dwigsan said.
DWIGANS SAID the exhibit would show what masks were made of and how they were used at various times and places.
The mask collection will be on the fifth floor of the Natural History Museum.
Four mask-making workshops will be held Oct. 13 and 20, Dwings said. She said the staff would show the exhibit through masking workshops as a public education program.
Another part of the public education program at the museum will involve an exhibit about endangered species, Dwizans said.
The exhibit, which will open about the first of January, will be on loan from the U.S. Fish and Wildlife Office of the department of the Interior, Swearingaan sequester.
HE SAID THE items in the exhibit would include fur coats, shoes, pocket books and jewelry collected by Interior Department members. The terms of the Endangered Species Act.
The act prohibits killing of certain species in the United States and contains an agreement to cooperate with other governments by confiscating items made for destruction endangered by the United States and other countries, Dwigsans said.
WELCOME BACK STUDENTS
With any purchase of $1.00 or more we are giving away FREE
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Offer good Sept. 6th thru 8th or while supplies last.
Chancellor's Cup Bike Race
Date: Sunday, September 9, 1979, 9:00 a.m.
Eligibility: open to current KU students, faculty and staff.
Chancellor's Cup Race; 3 races included
1. Men's division, (2.7M)
2. Women's division (2.7 M)
3. 4-person relay race, (1 lap each)
Entry Deadline: September 9th, 1979
Enter up until start time at start finish line (in front of Waste Hall)
Entry forms may be obtained in 2028 Robinson. Recreation Services. 843-3546
Enter forms may be obtained in the US, Canada, Mexico, and Australia.