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About The daily Nebraskan. ([Lincoln, Neb.) 1901-current | View Entire Issue (Dec. 8, 1986)
Monday, Decembers, 1986 Tax laws attack aid! Reforms increase burden for students Daily Nebraskan Page 3 J I j l j " u "is UJUJ L.S L J L DEDT from Pago 1 fur the House of Representatives Sub committee on Tost Secondary Edu cation, said with the current stagnant economy and predictions of a recession, students in debt are in a difficult situation. "The economy is not going to help debtors overcome t heir loans,' McAdam said. "It's frightening where we are 'It's frightening where we are going as an econ omy. The potential is there not to pay the debt.' McAdam going as an economy. The potential is not there to pay the debt." McAdam said the 1987 budget resolution called for $395 million in cuts in the GSL program over the next three years. To meet this requirement and to compensate for increased loan limits, Congress was forced to make "drastic" changes and "none of them are good," she said. Borrowers now must take a need test that will eliminate the eligibility of 20 to 30 percent of the current borrowers, she said. A .25 percent reduction in subsidies to lenders may also have negative side effects, she said. McAdam said some banks may make loans available only to good risk stu dents and some may withdraw from the GSL program altogether. McAdam said the 1986 Tax Reform Act "attacks" every form of student aid. She said students receiving grant aid must pay taxes on funds not used for tuition and fees. Students in the college work-study program will be subject to new withholding require ments and taxable funds. McAdam said this bill, like many of the tax reforms of this decade, increases the tax burden of the needy. Solutions to the problems of student debt should not be cutbacks or lower college costs, she said. "The only way to deal is to get in and compete" for government funding, she said. People should lobby to send the government the message that education is a top priority that must be funded, McAdam said. Debra Chappelle, former president of the Nebraska State Student Asso ciation, said the "rhetoric" of higher education does not match reality. She said the current policies are "forcing students into a cycle of forced ' choices. They are borrowing for their education without foresight of the ramifications of borrowing." People must "look critically at individual proposals and set a priority system," she said. IfJ AMD OUT in minutes . . 11 a.ra.-3 pjai. T. 5 pjn.-9.pja.. HVtf 1414 "O" 435-1414 sssssssssssssssssss ATTENTION DECEMBER GRADUATES The DEADLINE for the return of the yellow Commencement Attendance Form is: EE 11, 1986 Return it to SERVICE CENTER 107B Administration Building HQ El SUGAR BOWL RATES IN TOWN RESERVE YOUR ROOM TODAY THE RIVERTOWN INN AIRPORT 1021 Airline Highway Kenner, Louisiana (504) 467-1381 ext. 172 J 4 STAY FOR 1 Only $30.00 Directly across New Orleans Int'l Airport 15 miles to the Superdome Restaurant and Lounge a J)) (' Mini I an smium i 2 om specml-ofthe- dam MONDAY Deluxe Salad and Medium Drink TUESDAY Deluxe Burrito and Medium Drink Tvx r ! WEDNESDAY I Mix or Match mr Taco, Tostada CD r i i 1 I J or Bean Burrito J- THURSDAY Any Combination Plate or Deluxe Nachos nzs and Medium Drink "T Combination Enchilada J ana veuium uuuw SATURDAY Hardshell Tacos or Bean Burritos I v, V 1 I I (07 Only i n i Ljnrnrn rTjnr-iri r U ..i Ss3 ' ; - -- , ; .. i nrnTTTiirnriTTrrTririM"nnirTT"" i'"'11 ' ". 1.! "" J ' t?!'?!1' JTT 7raff?S ' ' OW'WttiLUlJiLJ JT'iVi t uElv " :'!lT" ; m'WW fc-awKj.r' T w--" i tt Z L. V 'ni '"' w,"m !w " - -"IVk1 -11 - -I .mmtmm jJgi ..jl,,,,,.. : . $J .. . i Gorgeous marqiuise cut precious gems set off by sparkling diamonds; over 12 carat T.G.W. Designer com bination set in solid gold. Ruby or Sapphire Ref. $325 NOW : A designer swirl of 14Kt. gold is the setting for a cluster of 9 glittering diamonds, over 13 carat t.w. Ref. 9 : $Re1s KOW547S This beautiful 14Kt. gold cross pendant is studded with 12 dazzling diamonds. Ref. $325 NOW $90C mmmmAv. inVerrQlf ,aa3Mt K; fi! fo Ka t K?- mmmmtfs ' It? V)J vV-Ksn ,- hit; W Ki i ti'- One great looking dia mond ring a dazzling diamond in a masculine gold setting. 10 pt. diamond Ref. NOW $425 $239 m Or This elegant engagement ring with a matching 14Kt. gold band shows off a tulip cluster of nine dazzling diamonds. Ref. NOW $575 $3g5 Diamonds upon dia monds these channel set rows of brilliance make this fabulous 14Kt. gold anniversary ring. 7h carat t.w. Ref. NOW $1895 $3,195 ."50 off ' UKGolc Chams and Bracelets SEZ3. LAV AWAY 90 DAY CHARGE INTEREST FREE co;v:rrov".ii cnrrr.u:.i li::ccln Monday thru Friday 10-9; Saturday 10-5:30; Sunday 12-5 7 PtpIc"'! One Hour Free Parking with purchase o $5 00 c SHOf