UNIVERSITY DAILY KANSAN
Tuesday, August 22, 1995
5A
Regent steps down from state board
By Josh Yancey Kansan staff writer
A member of the Kansas Board of Regents has resigned.
Karen Krepps Mailliard, who was appointed to the board in 1994, informed Governor Bill Graves on Friday of her resignation.
Regents Executive Director Stephen Jordan said the board would continue business as usual.
"Until the governor appoints a new member, I can't say who will replace her," he said.
Deanne Schmitz, administrative aide to the governor, said it was too soon to say who would replace Krepps Maillard.
"There's no certain time period for which the decision will be made," she said.
Krepps Maillard, of Kansas City, Mo., is vice president of Sprint and a member of the Business/Education Partnership, a committee formed to encourage businesses' involvement in Kansas education.
Krepps Maillard could not be reached for comment.
Failing to repay loans can hurt students and schools
By Tara Trenary
Kansan staff writer
Gradulating from college can be the highlight of every student's life, but the real world could become an uphill battle if student loans are not repaid.
After graduation, students may have many money concerns, but becoming delinquent on a student Loan could pose problems such as garnished wages, withheld tax returns and poor credit history, said Julie Cooper, associate director of the Office of Student Financial Aid.
"Remember that this is a loan students must repay and be responsible for." she said.
The University of Kansas federal Stafford loan default rate falls between 5 and 6 percent, said Diane Del Buono, director of the Office of Student Financial Aid.
This rate is not exceptional, but it is reasonable and compares favorably with most universities, whose default rates usually fall between 4.5 and 6.5 percent.
When students take out loans, they must go to an entrance session, and when they graduate or leave the university, they must go
"Remember that this is a loan students must repay and be responsible
for."
Julie Cooper Associate director Office of Student Financial Aid
through an exit session. These sessions Inform students of the rights and responsibilities that come with borrowing and repaying a loan, said Ginny D'Angelo, who is in charge of operations for Commerce Bank student loans. These sessions are the responsibility of the university and include presentations and information about the student's loan, different repayment types and plans, forbearances, and counseling.
When a student graduates or transfers to another school without informing the lender, the lender can consider the student delinquent if no contact has been made for 6-18 months, Cooper said. If the student has made no attempt to repay the loan within this time, the loan is considered in default.
The Department of Education is then notified, and it has the power to do what it takes to receive payment, she said.
Student loans are insured by the federal government, which could lose the repayment money if a student defaults. Also, KU can lose the ability to provide financial aid if the default rate enters the 27 to 30 percent range, Cooper said.
"Neither the federal government nor the lender wants the student to default," Cooper said. "They'll do whatever is possible to avoid this and to help the student."
If students think they may have trouble repaying a student loan, they can contact the loan lender, the Student Loan Marketing Association at (800) 533-8088 or the Office of Student Financial Aid at 864-4704 for counseling.
Gain Real World Experience at the University Daily Kansan
Join the Kansan Correspondents program and work for one of the country's top college newspapers.
Students can gain experience in the areas of reporting photography, graphics and design.
All Students in all majors are encouraged to attend the first Kansan Correspondents meeting on
Wednesday, August 23rd at 4:30 pm in Room 100 of Stauffer-Flint Hall. For more information, call Virginia Margheim or Colleen McCain at 864-4810.
THE UNIVERSITY DAILY KANSAN
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