Thursday, November 12, 1998
The University Da
Odd stories come in wake
By Melody Ard
Kansan staff writer
During the flooding in south central Kansas two weeks ago, much of the excitement for residents near Cowskin Creek in northwest Wichita came from the creek's bovine namesake.
Pamela Wyssenbach, Wichita freshman, lived with her family on the banks of the creek before she came to the University of Kansas. Although she had seen high water before, the stories she heard from her family surprised her.
"Mom and Dad said that two dead cows floated by in the creek behind our house and that a bull got out of the water and was running around the neighborhood," she said.
Wyssenbach said she knew Wichita had
received a lot of rain, but did not realize the extent of the flooding at first.
"I was watching the Weather Channel that morning, and I heard that Wichita got 71/2 inches of rain, but I forgot about it until I got an e-mail message from a family friend saying 'don't worry, your house is dry and your parents are fine,'" she said.
Wyssenbach's parents' house, which is located on a flood plain, survived the flood unscathed because it was built higher than the local building codes required.
"All the rules and regulations said we would have been able to build the house lower," she said. "But we decided to build it three feet higher.My parents moved all of the stuff in the basement upstairs just in case,but it stayed dry."
"Mom and Dad said that dead cows floated by in the behind our house and tha got out of the water and ning around the neighbor
Pamela Wyss Wichi
Rain from storms two weeks a several counties in south centr including Sedgwick County. Wyssenbach lived.
Wyssenbach and other stud the area watched for reports home counties Oct. 30, after flc
Loan provider receives boost from U.S. Congress
By Chad Bettes Kansan staff writer
The nation's largest provider of money for student and parent higher education loans received news from Washington last month that could allow it to expand its business.
U. S. Rep. Vince Snowbarger, R-Kan., sponsored a bill passed by Congress that will give Sallie Mae, 2000 Bluffs Drive, greater freedom to affiliate with private financial institutions.
Elaine Nelson, vice president for Kansas operations, said although Sallie Mae did not have immediate expansion plans, it requested the legislation to give it greater flexibility in the future.
"We celebrated here in Kansas because our congressman introduced the legislation," Nelson said.
She said the company tried to maintain a good relationship with the Kansas congressional delegation because Kansas was one of only four states with a regional office outside of the headquarters in Reston, Va. The Lawrence center employs 530 people.
Sallie Mae, one of Lawrence's top 10 employers, is a financial services corporation that was created in 1973 as a government-sponsored enterprise. Its purpose was to help meet the increased demand for expanded student loan programs after the Higher Education Act of 1972.
The company has grown steadily, and today its assets include 40 percent of all outstanding student loans. Sallie Mae specializes in education
lending and built its assets primarily by buying student loans from other banks.
It also provides servicing of loans to banks.
In 1997, Sallie Mae began a privatization effort with the approval of its shareholders and Congress. The bill, passed in October, removed another bureaucratic barrier on the way to Sallie Mae's transition to a fully private entity.
Despite Sallie Mae's large presence in Lawrence, the company has relatively little to do with the University of Kansas.
The University became part of the government's direct loan program three years ago. Direct lending eliminates the need for students and parents to deal with private lenders, said Diane Del Buono, director of student financial aid.
"We weren't unhappy with the old program, Sallie Mae or other community lenders," Del Buono said. "We just determined that with our high volume of loans and so many students, we could provide better service directly."
She said the University still cooperated with Sallie Mae for students who had older loans through the company.
Nelson said the Lawrence center of Sallie Mae handled loan default prevention for the entire company. With five million active student loan holders, Nelson said it was in the best interest of students and Sallie Mae to keep all loans performing.
"We find options such as deferring payments or increasing payments as a borrower's salary increases," Nelson said. "Then everybody wins."
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