16
Friday, September 18, 1987 / University Daily Kansan
Campus/Area
Computer for loans to save paperwork
Staff writer
Next week the University of Kansas' financial aid office will kiss paperwork for Guaranteed Student Loans goodbye and say hello to automation.
Tuesday, the office will begin regularly transmitting loan data by phone into the computer at the Higher Education Assistance Foundation in St. Paul, Minn. Fewer than 10 schools transmit data directly.
Guaranteed Student Loans are low-interest loans given by private lenders, usually a bank, and guaranteed through the federal government. You may be repay the loan until after they graduate or are no longer a student.
The office has been express mailing GSL computer tapes since June 28, and before then all the information went by regular mail.
Jeff Weinberg, KU associate director of financial aid, said the new system would save students paperwork and save his staff the time and money it took to mail each GSL letter to HEAF.
Under the new system, a student fills out the ACT—Family Financial Statement in order to be considered for all types of financial aid, and sends it to the processing center in Iowa City, Iowa. Students who want to apply for a GSL make a check in the appropriate box on the ACT form.
Then ACT electronically transmits the student's financial analysis by phone to a computer at KU. KU decides whether to give students accesses them by mail. If a student accepts the GU, a form is returned to KU.
If the student's loan is guaranteed by HEAF, as are 80 percent of the GSLs at KU, the financial aid office transmits the necessary data by phone to HEAF, and the same day promotes a promissory note to the student.
The student signs the promissory note and sends it either to HEAF or to his bank, depending on instructions. The student also checks a check to KU's financial aid office.
Weinberg said that under the old system, students had to fill out a separate GSL form, and that everything between KU and HEAF was done by mail. Under the new system, most of the work is done automatical-
lv bv a computer.
Joan Weaver, KU GSL clerk, said,
"It's faster from everyone's perspective, as long as students follow directions."
She said students couldn't expect to get their checks on time if they didn't follow the directions. She said most delays were because students failed to tell KU about an address change. All GSL mail must go to a student's permanent address, usually a parent's address.
Weinberg said that when a student's permanent address changed and KU wasn't notified, the award or the promissory note went to the wrong address and could be stuck in the mail for weeks.
Weinberg said the financial aid office requested delayed fee payment for 589 students this fall because of late financial aid. He said that most of the students probably had GSLs or Pell Grants. Pell Grants are grants from the federal government and don't have to be repaid.
Mary Hershberger, vice president of lender and school services at HEAF, said that HEAF started offering electronic transmitting about two and a half years ago, and now had about 10 schools on the program.
Kansas State University is one of the schools on the program. Christine Crenshaw, associate director of student financial assistance at K-State, said some checks were delayed this fall because of a HEAF computer glitch. Some students put inaccurate information on their applications, which were followed with implication in the HEAF computer. The applications should have been rejected but instead got stuck in the computer system.
Hershberger said that K-State sent a duplicate list of applicants, which he sent to the U.S. State Department and sent the applications again last week, and HEAF solved the problem.
Weinberg said KU students wouldn't have that problem because the University designed a computer system that catches almost all applications and mistake the system couldn't catch when a student had a previous GSL that he failed to repay and he didn't tell the financial aid office.
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