University Daily Kansan
Thursday, August 28, 1975
3
NDSL requests up, loan amounts down
By BILL KATS
Staff Writer
A combination of decreased federal funding and increased student competition for loans has made it difficult for University of Pennsylvania to Direct Student Laundry (NDSL), this year.
Last year KU received $768,294 from the federal government to operate the program. This year the University received only $679,172 for the NDSL program, Jeff Weinberg, associate director of the Office of Student Financial Aid, said yesterday.
Part of the reason for the cut in NDSL funding is that more money is available through the Federal College Work-Study Program. Weinberg said.
About $55,000 is available for the work-study program this year, an increase of approximately $100,000 over last year, he said.
JERRY ROGERS, director of the Office of Student Financial Aid, said NDSL funding was cut because the U.S. Office of Education said KU's estimates on the cost of books and other personal expenses for the program were excessive.
The Office of Education also said KU could do a better job of using money collected from loan payments, Rogers said. Weinberg said that approximately $000,000 collected from loan payments was to the financial aid office during the year.
In addition to the financial cutbacks, problems in the NDSL program have been compounded because a record number of students have enrolled, more than 4,500 students have turned in applications so far, Weinberg said. This is a substantial increase over last year's apprehension.
Rogers said that over 750 applications had been received after this year's cut-off date.
been received after this year's cut-off date.
MONEY FOR THE NDSL program students in federal government, the Kansas Legislature and collections from students paying back old loans.
The loans are free from interest while the student is in school but a three per cent interest rate is charged after the student leaves the University.
Although money for the NDSL program is tight, there are other ways for students to get financial help. The Office of Student Services offers a scholarship by nearly $200,000 at one point this year, Weinberg said, but the office is within $1,000 of meeting its financial commitments for the spring semester. As more loan收集 opportunities will open up, Weinberg said.
THE FINANCIAL aid office always anticipates cancellations of loans from people who decide not to attend the event and other means of financial help, be said.
The work-study program is another alternative. The financial aid office, when constructing some package aid deals, has reduced the money from the NDSL program and supplemented it with work-study, Weinberg said.
However, the University can't always guarantee the availability of work-study jobs to all who want them. Rogers says. But students should be aware that a student doesn't have to pay back a loan.
Students are repaying their loans almost religiously, Weinberg said. There is only a 4.9 per cent default rate on NDSL program loans.
He said that Lawrence's First National Bank had been an invaluable help to students seeking loans, but that other banks also offer this service to students.
MANY STUDENTS who couldn't obtain University sponsored help are turning to federally guaranteed loans offered by commercial banks, Weinberg said.
Bill Terry, a loan officer at First National, said that the bank was offering several hundred thousand dollars in federally guaranteed student loans.
The average loan is about $2,000, he said. The federally imposed interest rate is set at 3.75%.
Terry said that administrative costs are great in a federally subsidized program such as this, but First National thought the service to students was worth the costs. The student's default rate is also much lower than the national average, he said.
List $6.98
$3.97
Columbia
SENIORS
(Classified 4 or 5 Class of'76 Students who did not participate in HOPE AWARD nominations during enrollment.)
Non-Class Card Holders Eligible
NOMINATE YOUR HOPE AWARD CANDIDATES
Thursday, August 28 8 a.m.-5 p.m.
Information Booth on Jayhawk Blvd. Bring your registration card to vote.
High enrollment boosts business
Staff Writer
By RODNEY HOFFMAN
The annual back-to-school business boom is nearing its peak and sales volumes may reach an all time high thanks to the record enrollment at the University of Kansas.
However, some store managers said yesterday that increased competition from new businesses could mean that sales would remain at levels comparable with past
"taught now anything that has to do with fixing up houses or apartments is selling well," said Terry Bright, a clerk at Coast to Coast Hardware.
He said the increased demand for painting and patching materials and plumbing supplies was especially welcome this year as the company has sold in Lawrence during June and July.
the same items have been selling briskly
at Malotl Hardware, said manager Darwin Malott, and the sales rush began earlier this year.
Jim Meyer, manager of Rusty's Hillecrest supermarket said, "There is a big rush during the first week because everyone is buying it with buying a broom or something extra."
"Students are moving in earlier," he said,
"and a lot of them never left."
Meyer was quick to point out that an increase in the student population may not mean improved sales figures. There is more competition among grocers in Lawrence, he said, because new stores have opened and other stores have been remodeled.
Another merchant who noticed the effects of additional competition was Max Fuller, merchant to Vanderbilt.
"Our business is down 40 per cent compared to this time last year," he said.
SELF
KNOWLEDGE
a free introductory program on the meditation taught by Guru Maharaj Ji William
Will be held
Friday, Aug. 29 7:30 p.m.
Lawrence Public Library Aud.
Program will feature award winning film,
"WHO IS GURU MALMURAJI JAF"
with music by
for further information call:
Divine Information Center
1614 Kentucky
842-5274
Fuller said sales had declined because several plant stores had opened within the city. The number of plants has fallen.
One businessman who said sales had improved was Art Cromer, manager of Gibson's Discount Center. He said there had been a lot of growth in his month because of increased enrollment.
"It's normal to have a sales boom, but the added enrollment has enhanced it," he said. Cromer said that inventories in the houseware, stationary and hardware departments were increased and that 15 to 20 employees were added.
At Lawrence Surplus, manager Sonny Williams said August was a special time of year for selling jeans and other "basic clothing."
Prices have risen from last year's level, he said, but students are still buying.
"After the initial shock is over," he said, "they go aba- and buy."
Bev Noyes, manager of the Town Crier bookstores, echoed the sentiments of the other merchants by saying that the business boom was best during unrollment week and the first week of classes. After that, she said, sales leveled off until Thanksgiving.
---
Hurry Down and Take Advantage of Lawrence Surplus Great Corduroy Sale
You won't believe these back-to-school bargains!
Thursday Thru Saturday Only
Special!
Famous Brand
Corduroy Bells
10 Colors—All Sizes
reg. $14
now
only
$9.99
WOW!
Short Sleeve
Colored Shirts
reg. $3.98
now only $100
Lee
Blue Denim
Bells
reg. $13.50
now
only $999
Famous Brand
Shrink-to-fit
Jeans
(button & zipper)
38"-50" waist only!
reg. $11.80
now
only
$6.99
Crew Neck
Sweat Shirts
reg. $3.98
now only $200
Famous Brand
Recycled
Blue Jeans
Bells $999
Straight $899
Boys'
Famous Brand
Corduroy Bells
reg. $9.50
now
only $499
All Back Table
Jeans
$6.99
Valued $15.00
Wallace Beery
Short Sleeve
Shirts
3-Button
Light blue, Navy, Green,
Red, Grey, White
$ 398
Don't Miss the Greatest Back-To-School Sale in Town Come Down and Save Money
master charge
THE INTEGRATED CARD
BANKAMERICARD