I -]
Marshals sometimes collect
overdue student loan payments
LOANS from Page 1
The writ of execution allows the marshal
to confiscate what is necessary to cover the
debt. The confiscated items are then adver
tised and sold to the highest bidder, Scmisch
said, and the amount is rendered against the
debt.
If the dollar amount of the items sold is
greater than the debt, the remainder is re
funded to the student, he said.
Semisch recalled one instance in which a
Corvette was confiscated. He said the owner
came in the next day and paid $6,000 on his
debt to get the Corvette back.
If payments are set up to pay back the
debt, the student can expect them to be much
more than the original payments that was set
up when the loan was taken out.
Semisch said payments usually run from
I
$ 150 to $250 instead of the $30 to $50 that 1
was set up by the lender. The time period to
pay back the loan is also much shorter,
usually running from one to two years in
stead of, for example, the 10-ycar payback
set up with some loans when they are taken
out when the student is in school.
One reason many loans aren’ t paid back,
he said, is that there may have been a percep
tion that if the student debtor didn’t make the
required payments on the loan, there would
be a large delay before action was taken
because of governmental red tape.
That’s not the case anymore, Semisch
said. With the new program, the government
can move just as fast as other creditors.
“The government shouldn’t play second
fiddle,” he said. “Everybody wants their
money first, but usually we’re the oldest
creditor.”
Student support wanted
No NU yearbook since 1972
YEARBOOK from Page 1
Some mem hers of the com m i ttce are gather
ing information Irom other schools about how
they run their yearbooks. Committee members
arc also contacting yearbook companies to
discuss publishing prices, Schafer said.
Craig Gerdes, a junior marketing major, said
UNI. is the only Big Eight university without a
yearbook.
Committee co-chairman Julie Naughton, a
freshman news-editorial and broadcasting
major, said many alumni do not know that the
university’s yearbook was discontinued in
1972.
in tact, according to a survey sponsored by
the Alumni Association in 1985. many students
do not know the university doesn’t have a
yearbook. The survey indicated that 15 percent
oi 1 M respondents believed the university Had
a yearbook.
Right now the yearbook committee needs
more memners. But members say tiiev also
need student support for the yearbook so they
can use student fees.
Gerdcs estimated the book would increase
student lees less than $ 1 per person each semes
ter. Fund A fees go toward the University
Program Council, ASUN and the Daily Nebras
kan.
Students would also pay about $15 for the
yearbook.
In a student government referendum on the
1985 ballot, 57 percent of student voters said
they would buy a yearbook and pay the extra
student lee if one was available.
According to Kathy Shellogg, activities
coordinator for the university s Campus Ac
tivities and Programs office, about $2(),0(X) is
needed to start the yearbook.
The fees would be used to buy a personal
computer, office surmture and photography
equipment, Gerdc said. The yearbook com
mitlce is working to f ind a source of money
‘We hope to be able to publish a yearbook
tor the IP8P '>() school vear " Gcrdes said
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