Solution disturbs administrators
DEFAULT from Page 1
coming back to haunt them (the govern
ment).”
For many students it comes down to taking
out a GSL or not going to school, he said.
The reason the four-year institution default
rate is generally lower than the proprietary
schools is that four-year graduates are more
marketable and their earning potential is
greater than those who graduate from other
schools, Severs said.
Of the students who default on their loans,
he said, most are students who have com
pleted less than two years. The students who
borrow the most money have the lowest de
fault rate.
UNL’s default rate for the $20 million al
located annually in student loans usually
ranges from 7 to 11 percent Although UNL’s
default rate is below the warning figure an
nounced by the Department of Education,
Severs said, that doesn ’ t mean that UNL is not
worried about the situation.
Larry O’Meara, regional director for the
Higher Education Assistance Foundation,
said Bennett’s action caught everyone by
surprise.
O’Meara said he believed the ultimate re
sponsibility belongs to the student borrowers.
“If they get behind and try to avoid credi
tors, it’s the worst thing that they can do,” he
said.
Students should apply for a deferment in
stead of doing this, O’Meara said. He said
several deferment options are open to stu
dents having trouble, including an unemploy
ment deferment if the student is unable to find
a job within the grace period.
Some educational officials in Nebraska
argue that the Department of Education used
gross defaults instead of net defaults and
therefore the default figures are inaccurate.
After the six-month grace period has ex
pired, the lender must wait 270 days before
filing a claim, O’Meara said. Between the end
of the grace period and 270 days the loan is
considered delinquent, he said, and after that
it is considered in default.
Even if the student later decides to pay off
the loan, it is still on gross statistics as a
defaulted loan, he said. The net default statis
tics do not include loans that are eventually
repaid.
All parties involved could do a better job,
O’Meara said, including the lender, the insti
tution, the guarantee agency and the student.
“The bottom line is to work with the lender
when you have a problem,” he said.
Nancy Wiederspan of the Nebraska Stu
dent Loan Program said there needs to be a
partnership between schools, lenders and
guarantee agencies to solve the problem of
defaults. She said communication is the key to
theprocess.
Bennett has said the Department of Educa
tion would track default rates for the next two
years, and the schools that still exceed a 20
percent default rate would receive warning
letters in 1989.
After this, Bennett’s plan says, institutions
will have a year to get their default rate in line.
If they don’t, steps may be taken that would
lead to a suspension of their eligibility to
participate in federal student aid programs.
Stress study called
wrong; Nebraskans
face share of shakes
STRESS from Page 1
person would develop more illnesses in stress
ful states. The researchers had hoped to prove
this with the survey, he said.
Lansky said he was not surprised by the
results of the survey.
Survey information was collected in 1982
and was finally compiled this year. In a survey
done in 1976 from the same information,
Nebraska was listed 50th.
Lansky said strong family stability makes
Nebraska less stressful than other stales.
Bahr disagreed that people in Nebraska feel
less stress. He said it might have been less
stressful before Nebraska became as modem as
the rest of the country. He said he doesn’t
believe the factors used in the survey are a
reliable measure of stress.
Stress is a result of biological, environ
mental and interpersonal problems t hat cannot
be rated by a survey, Bahr said.
“Stress is pretty uniform throughout the
lation.” ne said.
cun
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