Sunday, May 19 Kansas Union Ballroom 7:45 a.m. Breakfast 8:30 a.m. Program
STAY TRUE TO THE CRIMSON AND BLUE Commencement Breakfast For graduates and their families
The Chancellor's Student Awards and the class gift and banner will be presented during the program.
For tickets, return the card from your Commencement packet or contact the Alumni Association, 864-4760.
Sponsored by the KU Alumni Association, the Student Alumni Association and the 1996 Board of Class Officers
KANSAS ALUMNI ASSOCIATION
Average senior owes $15,000 in college loans
Debtors should work out plans to avoid default
By Eric Weslander
Kansan correspondent
Graduates who fail to repay their loans learn quickly that garnishment is not a culinary skill. It is the power the federal government has to take money out of a debtor's paycheck.In addition to the having the authority to take parts of wages, the federal government also can hold on to debtors' tax refunds.
"It's important for students to realize that the federal government has a huge amount of power in terms of collecting loans," said Julie Cooper, associate director of the office of student financial aid. "They don't ask; it just happens."
The average college senior owes $15,000
at graduation, Cooper said. She said 90 percent of students who took out a loan didn't have any problems paying it back in ten years.
"It's kind of ironic," she said. "For some, everything goes smoothly; for others, anything you could possibly imagine goes wrong."
Cooper said that health problems, pregnancy, and failure to find a job were common causes of repayment problems for graduates. Although these problems can hamper a graduate's ability to repay his or her loan, Cooper said there were ways to work it out.
Karen VanMeter is the manager of college and university relations for the Lawrence branch of Sallie Mae, a national agency that buys loans from banks. She said that they always took students' financial situations into account.
In extreme cases, Van Meter said, they offered graduates an income-sensitive repayment plan.
"The student tells me how much he can pay, and I agree," VanMeter said.
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Graduation
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