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NebraskaN_
Unique program launched
CB A and corporations unite
By Sara Bauder
Staff Reporter
A college professor returns to
work in the corporate world for a
while, bringing his experiences back
to the classroom. A retired business
executive mentors a business student
at the University of Nebraska-Lin
coln. Corporations suggest ways stu
dents can make the best use of their
elective hours.
These are all possibilities for Col
lege of Business Administration stu
dents at UNL because of a new part
nership between CBA and several
corporations, said Leslie Childs Sat
terlund, director of Corporate and
Student Development at UNL.
“Our goal is to enhance students’
education and their opportunities for
the future,” Satterlund said. ‘‘We
want CB A to be recognized as a lead
ing source of talented students.”
Satterlund said the program is the
only one of its kind in the nation.
Under the Corporate Partners Ini
tiative, a corporation will pay
$10,000 to participate in the pro
gram. In return for this money, the
corporation will have an opportunity
to work directly with students for
three years.
Of that $ 10,000, $1,000 will be set
aside for scholarships. Satterlund
said the rest of the money will be used
for recruitment purposes and to fund
the program.
Satterlund said corporations will
benefit because they will be able to
recruit students who will fit into their
company and they will have direct
input in the development of potential
employees.
Satterlund said students will bene
fit through increased contact with
potential employers, scholarships,
internships, summer employment,
cooperative education and men
toring.
Mutual of Omaha and First Na
tional Bank of Omaha were the first
two companies to sign on with the
project. Satterlund said she expects to
have six corporations participating
this fall.
Most students pay off loans;
UNL within federal decree
By E»Bj Rosenbaum
: Stair Reporter
Although 650 institutes of
higher education across the
United States are facing penalties
because of high student loan de
fault rates, the University of Ne
braska-Lincoln is safe from the
federal crackdown,
Schoote with student loan de
fault rates above 60 percent will be
subject to limitation, suspension
or termination from the govern
ment’s student ban program, ac
cording to the Associated Press.
Schools with default rates be
tween 40 and 60 percent will be
required to reduce that rate by 5
percent a year.
Strict steps also will be imple
mented for those schools with 20
to 30 percent default rates. The
penalties will be enforced by fan.
1,1991.
UNL has an annual student
loan default rate of 7 percent* said
John Beacon, interim director of
the Office of Scholarships and
Financial Aid, ONL’s cumulative
default rate, which encompasses
the past three to six years, is 9.4
percent
Beacon said he credits the low
default rale to a good adraimstra
See AID on 5
No credit for ETBE
Exon says Bush ‘talked, but didn’t act’
By Laura Smith
Staff Reporter
U.S. Sen. J. Janies Exon, D-Neb.,
said that although he is always glad to
have the President visit Nebraska, he
is disappointed that the President
didn’t extend the fuel tax credit to
ethyl tertiary butyl ether (ETBE).
President George Bush visited
Lincoln June 13, one day after an
nouncing changes to the Clean Air
Act.
“While I support and applaud the
President’s clean air bill,’ ’ Exon said,
“most of the emphasis is on metha
nol, which comes from oil and coal,
rather than ethanol, which is pro
duced in Nebraska.’’
Exon said that when he heard
President Bush was coming to Ne
braska, he was hopeful Bush had
agreed to extend the tax credit.
“He talked about it, but he didn’t
act.
In a letter to Bush prior to his
Lincoln visit, Exon encouraged the
President to apply the fuels tax credit
to ETBE.
The tax credit reduces the amount
of money retailers must pay for fed
eral fuels tax, said George Gibson,
Corporate Controller and Treasurer
of American Eagle Fuels of Lincoln.
Retailers who sell gasoline with
out alcohol pay a federal tax of 9.5
cents a gallon. Retailers who sell
gasoline with 10 percent alcohol pay
3.5 cents a gallon.
To get a 10 percent alcohol mix
ture, nine gallons of gasoline are
mixed with one gallon of alcohol.
Thus the retailer saves 60 cents in
federal taxes for every gallon of alco
hol sold.
Retailers who sell gasoline con
taining more or less than 10 percent
alcohol must pay the 9.5 cents, but
may claim a 60 cent per gallon ex
emption on their tax returns for every
gallon of alternative fuel sold.
Although the method differs, Gi
bson said, retailers get the same
amount of money per gallon for sell
ing alternative fuels.
Exon said many people in Wash
ington D.C. are acting to get the fuel
tax credit to apply to ETBE.
Gibson said officials arc asking
for a clarification of the tax code to
include ETBE. The clarification is
needed because when the alternative
fuels code was revised in 1986,
ETBE was unknown.
Exon said he thinks the 101st
Congress will act on the issue.
I think we II have the coopera
tion of the President,” he said.
Exon said he applauds the efforts
that President Bush has made so far,
but said he suspects that the President
doesn’t fully appreciate ethanol.
“We must remember that the
President’s background is in oil, not
in com production.”
Gov. Kay Orr said she talked to
Bush about extending; tax credit to
ETBE when he was in Lincoln last
week. Orr said Bush didn’t say
whether he would support an ETBE
tax credit.
She said the tax credits received
praise from Secretary of Agriculture
Clayton Ycutter, Secretary of the
Interior Manuel Lujan and Secretary
of Energy James Watkins. The three
cabinet members traveled to Lincoln
with Bush.
Tax breaks are necessary to help
ETBE, she said, because ethanol
Allen Schaben/Dally Nebraskan
Gov. Kay Orr listens as President Bush discusses his alternative fuels proposal at the Bob
Devaney Sports Center.
gives fanners another place to market
their grain.
She said a briefing by ethanol
experts was helpful to Bush.
The experts told Bush about the
University of Nebraska-Lincoln’s
ETBE research and about ethanol
programs in Nebraska before touring
engine testing facilities, said Peter
Jenkins, chairman of the Mechanical
Engineering Department at UNL.
Jenkins said Bush watched while
two emissions tests were conducted,
one on a car with base fuel" and
See ETBE on 2