Image provided by: University of Nebraska-Lincoln Libraries, Lincoln, NE
About The daily Nebraskan. ([Lincoln, Neb.) 1901-current | View Entire Issue (April 20, 1995)
I iwcoim socces srrc/Aifsr 3031 0 Street 477-0313 10% Off Anything in the store. (Coupon expires 4.28.95) Good Luck to the UNL Women's Soccer Team! Saturday • April 22 Whittier Field • 23rd & W Streets 11:00 Nebraska v. Air Force 1:00 Minnesota v. Air Force 3:00 Air Force v. Creighton UUIUUw 5:00 Nebraska v. Minnesota Spring Collection '95 Bridal SKovv Saturday, April 22 Fashions to warm the heart. We promise > 30% off diamond engagement rings and bridal sets, 60% off gold chains, charms, bracelets, and earrings. -Drawings and prizes given ROGERS Gateway Mall ■JEWELERS 467-3600 Those who pay can thank ‘Mae’ By Becky Keasling Staff Reporter College graduates who consistently make payments on student loans may be eligible for an interest rate de crease. , Sallie Mae, a servicer of Federal Family Education Loans, is a second ary lender that buys loans from banks that offer federal Stafford Loans. Josh Dare, a Sallie Mae represen tative, said people who made their first 48 monthly payments on time automatically were registered for the Sallie Mae Great Rewards Program. “Sallie Mae will buy your loan from the bank and decrease the student’s current interest rates by 2 percent,” he said. He said the program was important for establishing good credit ratings. Two additional Sallie Mae pro grams are the Great Returns Program and theJDirect Repay Plan. The Great Returns program is avail able for borrowers who make their first 24 payments on time. The Direct Repay Plan allows for the electronic transfer of money for students’ monthly loan payments. By using this plan, borrowers receive an additional one-fourth percent off the interest rate. But the University of Nebraska Lincoln Office of Scholarships and Financial Aid is not in complete sup port of the Sallie Mae program. “I don’t object to it, but I would look at it carefully before signing up for the payment program,” Director of Scholarships and Financial Aid John Beacon said. “In the long run, it will save students little money.” Beacon said a better student loan program would be available to UNL students during the 1996-97 school year, when a new direct lending pro gram will be available through the federal government. The federal program currently is being used at select universities. Bea con said those schools had positive “Sallie Mae will buy your loan from the bank and decrease the student's current interest rates by 2 * percent ■ JOSH DARE Sallie Mae representative feedback about the program. “Although it was UNL’s decision to use the direct lending program, Congress will phase the program into all universities,” Beacon said. “By the year 2000,40 percent of student loans will use the direct payment plan through the federal government.” Special education funds may be limited By John Fulwider Staff Reporter Sen. Janis McKenzie of Harvard is in the market tor a new car. During debate Wednesday , she lik ened Nebraska s method for provid ing money for spe cial education to a 1973 Chevy. She said cost overruns under the current process, begun in 1973, required a I CPICI ATI IDT new 1995 model. LEGISLATURE “it’stimetolook at something that isn’t requiring as much fuel,” she said. McKenzie’s solution is the special education bill, which advanced by a vote of 2 8-0 to second round debate. It would limit increases for special edu cation money to the amount that gen eral education funding increases. If general education funding increased five percent one year, special educa tion funding could not increase more than five percent. Nebraska’s special education car is a gas guzzler, McKenzie said, as the state spends more than $122 million each year. That amount is spent, she said, because public school districts are reimbursed for 90 percent of any addi tional costs they incur educating stu dents with special needs, such as learn ing disabilities. Those districts also receive $5,000 on average to educate other students, she said. McKenzie gave an analogy to show why the reimbursement system costs more. She said a father could either give his daughter a $150 per month allowance or reimburse her for 90 percent of her monthly spending. “Which way would you spend more?” she said. She said school districts would not spend money so freely if they knew a limited amount were available. The special education bill would limit the amount available by giving school districts a block grant to cover the additional costs of educating spe cial needs students. Sen. Ernie Chambers of Omaha opposed the use of block grants because they may not cover every need, and that would hurt chil dren, he said. Sen. Curt Bromm of Wahoo dis agreed with Chambers. Bromm said the system needed to be changed, because funding for spe cial education could run out in five to seven years ifsomething was not done to control rising costs. “I think if you argue that we should do nothing,” ne said, “then fiSWliP ones that are hurting kids.” You can earn from $200 to $1,3011 by participating in a medical research study at Harris. Many studies are currently available. If you are in good medical condition and meet the criteria below, call us at 474-PAYS to find out more. ■ men and women m smokers and nonsmokers ■ 19 years old or older ■ availability: weekend and weekday stays Harris testing pays. Call 474-PAYS today! BE PART OF THE CURE 621 Rose Street Lincoln, NE 68502