6
Wednesdav. August 18, 1976
University Daily Kansan
Scholarships, loans, grants help to pay for college
BY JOHN MITCHELL Contribution Writer
There are many ways to get paid for going to school, and you don't have a genius for it.
Over 15 programs administered through the Office of Student Financial Aid bring more than a million to University of Missouri, student and faculty Roger, director of student financial aid.
Scholarships and loans make possible a university education for many KU students, said Rogers, noting that over 10,000 of these awards were made to students in 1974-1975.
SCHOLARSHIPS differ from loans in that
the student must have no obligation on the
student to pay back the loan.
'Most programs at the University are still based on student need.'
be relied on by the student with a cerain
bile in grade III or IV.
Loans, however, are more numerous than scholarships, and do not require as high a ligh
The way in which a student qualifies for a scholarship or a loan depends on the financial need.
For most of the University's programs, a financial statement from either the American College Testing program or the College Scholarship Service is needed.
THE FEDERAL government's program of Basic Educational Opportunity Grants has its own financial statement. Generally, the Federal financial aid must apply for BEOS as well.
Rogers commented, "It's ridiculous to people fill out both forms," but explained that the BEOG money was figured by the government, not by KU.
"They give us the money, which we use as a foundation for a financial aid package," she said.
He said that the BEGO processors don't use the same methods for determining a student's interest to the Parent's Concerns (PCS) as does SS SSA family Financial Statement, used by ACT.
"THE BEOG is more strict," said Rogers. "They allow a family a low living allowance, and the PCS and FFS give a higher allowance."
Most of the University's programs are based on need, says Rogers, and that need is determined through the use of the two computer systems on the same computer in the same way.
THE FORMS take into account the parents' income, the student's assets, and the earnings the student makes during the summer. They also ask the parents to list everything that causes expense, such as larger size, financial liabilities, and major bills.
From this data the computer subtracts allowances for a family's particular
Finally, the parents' expected contribution to the student's education is figured and sent to KU. The Office of Student Financial Aid subtracts it from the budget, has prepared, and arrives at a number that is the student's need for financial aid.
Rogers said most of the general programs have a top award of $600, but that by covering a BEOC, perhaps several companies can get their attention the entire need can usually be covered.
WE TAKE the figures, and arbitrarily decide what we can guard." Roers said.
A 3.25 grade point average is usually the minimum needed to qualify for a school.
He said that those with a GPA of 3.75 and above will usually get the $600 award, and those between 3.5 and 3.75 will get $500, if their need is that much.
"We're not going to take the place of the parents," said Rogers, adding that some families who can afford their children's education refuse to pay for all of it.
"IN THAT case, the kids turn to us to see if they can get anything," said Rogers. He suggested that loans or college work would be more appropriate for these students.
There is no one cut-off point in the family's income above which aid is not given, because each family's situation differs, said Rogers.
"There are some $28,000-a-year hardtimers," he said.
THE STATE of Kansas also awards money for outstanding students, said Rogers. These awards are decided outside the school. University only distributes them, he added.
supplementary grant, which is awarded in some hardship cases. BEOG awards have ranged up to $1,000 in the past, but Rogers is doubtful about next year.
"Next year, we're going to have a lot more people on BEOG, so the awards will be higher."
SEOG grants are comparable to BEOG awards in amount yet only given as a percentage of total grant funds.
FOR THE students who make top grades at the University, there are Summerfield and Watkins-Berger Scholarships and National Merit Scholarships. The National Merit Scholarship through the National Merit Corporation, and KU sponsors the money award.
The Summerfield and Watkins-Berger Scholarships, for men and women respectively, are the University's top scholarships. They are awarded only to Kansas residents, and awards are decided by a faculty-student committee.
A Summerfield or Watkins-Burger Scholarship can be given to incoming freshmen or to present students at the University. A graduate point average is 8.75 grade point average to be considered.
Ken Schwartz, Hoshing senior, is a member of the Honor Scholarships Committee, who awards the high-honor scholarships.
"We GO on the basis of transcripts and papers, mostly," he said.
"Each nominee, freshman or student, must write an "intellectual autobiography" and an essay projecting himself into the future, Schwartz said.
'It doesn't depend on how smart a guy is, but how well-motivated he is.'
In addition, incoming freshman go through two days of psychological testing in the fall. The committee receives a ranking of the prospective scholars on each test, said Schwartz, and then must decide whom to award the scholarships to.
"We look for a cut-off point," Schwartz said, "where a certain number are way up there."
Schwartz said, "It doesn't depend on how smart a guy is, but how well motivated he is."
Scholarships are given to persons who do not go on to succeed at KU.
"I'm not too proud of our track record," said Royers.
For students who need a lot of money and who don't make top grades, loans are available, Rogers said. There are three main loan programs at the University: National Direct Student Loans, Health Profession Loans, and Short-Term Loans.
The National Direct Student Loans can range up to $1,000 with an interest rate from five per cent to 15 per cent. The federal government contributes eight-ninths of the money, with the state putting up one ninth through KU, Rogers said.
KU LIKES to make National Direct Student Loans because of another feature, accoring to Rogers. The University receives three per cent of its loans from the federal government as an administrative fee, to help pay the cost of the nanowire.
"This way we can get help in paying our salaries," Rogers said. "There's no ad valorem tax on it."
Health Profession Loans are made through the School of Pharmacy, Rogers s
"They get the money from donors, and they name the recipients," explained Ms. Cherry.
FOR THOSE who need money at one specific time, and not continuously, the Endowment Association makes Short-Term loans, said Rogers.
"You can get around $40, at four per cent interest, if you get at least a 2.0 GFA, $6 per cent."
The loans are usually due on Aug. 1 after the loan is made, said Rogers. The borrower must pay back the loan before he enrolls for the full semester.
"They're usually paid within a few months," Rogers said, "but, if you default, we put a hold on your records, and you can't enroll."
Though a student usually needs no coagener if he makes a small short-term loan, he can afford a much larger loan.
"WE HAVE a very good record on National Direct Student Loans too," he said. "Federal Insured Loans have default rates that are somewhat higher."
Federally Insured Loans are not administered by KU. They are made to students by private banks, yet the money is insured to those banks by the federal government.
Federally Insured Loans are made to a maximum of $1,000 a year for un-
'You can get around $400, if you've got at least a 2.0 GPA.'
dregraduates. They are to be repair star-
nine in 12 months after the student
graduates.
ON MOST of these loans the family income determines whether interest is paid while the student is in school. As a general rule, if the family makes less than $15,000 a year, the student pays no interest while he is in school. The government makes an interest payments.
With a family income of more than $10,000, the student pays interest for the entire period.
Banks usually consider the student's interest in school, his record, and his financial need when they consider Federally Insured Loans.
Rogers illustrated what he meant by financial aid packages by giving an example of a student with a 3.98 GPA who needed $2,380.
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With a combination of a National Merit Scholarship, the KU Summerfield Scholarship, and a work program, his need is served. Rogers said,
Similarly, he gave an example of a student with less than a 2.0 GPA, who needed $2,800. A $1,100 loan takes care of the lion's share of his need, Rogers pointed out, and if he's eligible for BEOG and SEOG, those can fill in the rest.
Rogers said it was the aim of the Office of Student Financial Aid to make a college education financially feasible to as many as possible.
Transcendental Meditation Lecture
Wed., August 18, 7:30 p.m.
Kansas Union—Parlor C
Ihurs., August 19, 7:30 p.m.
Kansas University—Parlor C
1974 World Plan Executive Council U.S. All rights reserved. Transcendental Meditation and
Transcendent WORKPAC-U.C., a non-profit, educational organization.