Page 14 University Daily Kansan, January 15, 1981
Interest rates catch up with KU student loans
By KATHY MAAG Staff Reporter
In an effort to conform to raising interest rates throughout the country, Congress has increased the interest rates for Guaranteed Student Loans from 7 to 9 percent, Jerry Rogers, financial aid director, said yesterday.
Guaranteed Student Loans are long-term loans available to students enrolled at least half-time and making reasonable academic progress as defined by credit hour and grade point minimums.
Any student who has never borrowed under the program and who did not enroll until Jan. 1, 1981 will pay 9 percent interest during post-graduate repayment. Any student who previously attended school to pay 7 percent interest and would never be charged the new 9 percent rate.
New borrowers will start repayment six months after graduation, instead of the previous nine months.
UNDER THE NEW legislation,
aggregate loan amounts for dependent
students increased for undergraduates
from $7,500 to $12,500. Graduate stu-
dent now can borrow up to $25,000
during the undergraduate and graduate
periods.
Independent students have a maximum loan total of $15,000 and can borrow up to $3,000 a year, as opposed
to the $2,500 undergraduate limit. To be certified as an independent, a student must prove that during the year of application he did not live with his parents more than six weeks, was not claimed by his parents on income tax forms and did not receive more than $750 of support from his parents.
These changes will not slow KU's record-high guaranteed loan program, Rocky.
"The effect should be minimal," he said. "I think a lot of students are more concerned with the out-of-pocket exertion than the interest rate, anwav."
Since August, the KU Office of Student Financial Aid has processed about 32 million in total of about 16 million. The office possessed 3,719 guaranteed loans in fiscal 1979.
WITH INTEREST RATES continuing to soar for conventional loans, some families not really in need of assistance acquire the low-interest student loans, he said. The families then invest the usually spent money on educational expenses.
one federally guaranteed loans are being used too much," Rogers said. "What happens is that while the list of these kinds of loans grows longer and longer, it dries up available funds for federal grants. In other words, the grant programs will suffer at the expense of the loan program."
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Watson renovation behind schedule
BOB GREENSPAN/Kansan staff
Staff Reporter
BOB MOEN
The renovation of Watson Library is behind schedule, but it should not increase the $6.22 million cost of the library's building man of the libraries, said yesterday.
DIOTRONICS
"What we're concerned about is the renovation will take about two years and services rendered to the students will be limited further." Rans said in his office, surrounded by construction on the first floor.
John L. Glinka, associate dean of the libraries, said the delay was partly because of a strike by insulation workmen and problems with power lines and power transformers.
Bob Green, president of the B.A. Green Construction Co., which is doing the renovation, said the strike lasted three and one-half months and caused the delay. He said the strike was now over and that the workmen would be back on the site today.
Glinka estimated the project was off schedule by two months. This will push the original March 16 completion date set for the second phase into mid-May and the subsequent phases into 1982.
NEVERTHELESS, THE second phase—renovating the first floor—has already been. Rams said.
However, work on the front steps to allow easy access by the handicapped is ahead of schedule because of the good weather, he said.
RANZ SAID STUDENTS would have to enter through the west end of the basement level this semester of the construction on the first floor.
Surrounded by the plastic covered stacks in Watson Library, Rod Hardister, of the Hardister Painting and Decorating Co. works during the ongoing renovation project.
Meanwhile, the renovation has moved into the center of the library—in the stacks—where a sprinkler system, new ductwork, painting and lighting are being added.
Carol Chittenden, associate reference librarian, said students who needed books in closed areas could have them paged from the circulation desk after the workmen left for the evening.
BOTH MEN SAID the renovation would be worth the trouble when it was completed. They said that a lounge with food and drinks would be in the basement and that each floor would have its own restrooms, instead of just the first and second floors having restrooms.
Rans commended the students for their cooperation and patience, adding that the "library these days is not the place to study."
Glinka agreed but said there were rooms for study, such as the second floor balcony and the periodical room in the basement.
In Marvin Hall, which is also under renovation, the library books have been relocated. Engineering books are in the Satellite Union, geology books are in the science library in Malott Hall and geography and urban planning books are in Watson.
Prayer vigil silent march honor King
Two student organizations have scheduled a prayer vigil at noon today at Danforth Chapel and a silent march from the Kansas Union to Daisy Hill at 12:30 p.m. to commemorate the birthday of the Rev. Martin Luther King.
The GSP Black Caucus and Balcks in communications are the main sponsors of the GSP.
"Faculty and students are joining
together to show solidarity with other groups to convince the US Congress that Martin Luther King's birthday should be recognized as a national holiday," Sam Adams, associate professor of journalism, said.
Joe Beasley, executive director of Operation PUSH in Kansas City; the Rev. John Precipes of the Pasco United Methodist Church in Kansas City; Tracy Brown, Dallas freshman; and Adams will speak in the Templin Hall cafeteria at 7 tonight to conclude the day's activities.
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The Board of Regents doesn't seem to believe in wasting time.
Each year there is less time between enrollment and the day classes start second semester than the first semester. The calendar is set by the Regents, which recently studied the length of the break between semesters. The school officials wasn't necessary and it was a waste of time for students to return for enrollment on a Monday and then wait a week before starting classes.
All universities in Kansas are ex-
celsive and begin the period of
enrollment on a Monday.
Although KU has an additional day students complain that spring enrollment is rushed. Seniors, who register Monday morning, are not given enough time before enrollment to meet with their advisers. According to the college's calendar, chairman, enrollment could be run much more smoothly and efficiently if classes were started the following Monday.
The Regents have been following this basic schedule for about eight years
Recreation Services
Basketball Update
Team Basketball Entry Deadline:
Team Basketball Entry Death.
Tuesday, January 20 at meetings
Play begins: Sunday, January 25
—Meetings—
Trophy League —6:30 p.m.
Recreational A League —7:30 p.m.
Recreational B League —8:30 p.m.
All meetings held in 201 Robinson
Free Throw Contest
Entry deadline—10:00 a.m., Jan. 24
New Robinson Gymnasium
Play Behind—Sat, Jan. 24, 10:00 a.m.
One-on-One
Entry deadline—Wed., Feb. 4.
5:00 p.m., 208 Robinson
Play Begins—Sat., Feb. 7
Play Begins—Sat., Feb. 7
10:00 a.m., Robinson Gym
Water Basketball
Entry deadline—Mon., Jan. 26 at Manager's meeting, 6:30 p.m.
Old Robinson Gym
More Info? Call
Recreation Services 864-3546
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