Page 10
The Banner
February 27,1997
News
Student Loans: Second part in student debt senes
By Shelley Eller
staff Writer
The financial aid office granted 4
million dollars in student loans
during the 1995-96 academic year,
according to the office of financial
aid at UNCA.
“We’ve already exceeded that
amount for this school year. Stu
dent loans go through quicker now
because of the Direct Loan pro
gram.
“Before the program, we were at
the lenders mercy. We have more
control now. We can now approve
a check for a student in less than 48
hours. The business office then pre
pares the check. I n less than a week,
a student can have a check in hand,”
said Carolyn McElrath, director of
financial aid.
For some students, however, ob
taining a loan can be long process.
“It was really hard for me to get my
loan,” said Becky Simpkins, a se
nior majoring in Spanish.
“When I got married, I went
through a lot of verifications that
slowed down the process. I applied
for my loan in September and got it
two days' after fall semester was
over.“
Another student also waited a long
time to obtain her loan.
“It was a very lengthy process for
me,” said Amy Campbell, a senior
psychology major. “I applied in
April and finally got an answer in
December, after the time when I
really needed it.”
According to McElrath, students
need to get financial aid forms in as
soon as possible to minimize prob
lems in obtaining loans.
“Funds go to the eligible person
who has applied first,” said
McElrath.
There are numerous types of loans
students can apply for, according to
McElrath. These include the
Stafford loan, which turns down
no student regardless of income.
“I really didn’t have any trouble
getting my loan,” said Alphonso
Donaldson, a sophomore literature
major. “I got the Stafford loan I
needed without any problems.”
The Stafford loan is categorized as
subsidized or unsubsidized. The
government pays interest on subsi
dized loans as long as the student is
working toward an undergraduate
degree or is attending graduate
school.
It also allows a six month grace
period after graduation before the
student has to begin paying the
interest and principle back.
Unsubsidized loans are for stu
dents with a larger source of in
come. The government does not
pay interest on these loans.
McElrath said that interest on a
unsubsidized loan begins accruing
the day the student obtains the
loan.
“The interest continues to accu-
mujate throughout the student’s
colFege career,” said McElrath.
“In this situation, the student has
two options. They may either
choose to pay the interest while
they’re in school to keep costs down
or allow the interest to be capital
ized or added to the principle of the
loan.
“This increases the amount the
student has to pay,” said McElrath.
Other loans available include the
Perkins loan. The loan is based on
need and allows students to borrow
up to $3,000 dollars a year.
A student in graduate school may
borrow up to $5,000 dollars with
the loan. There is a nine month
grace period after the student is no
longer enrolled in college to begin
making payments.
“It really wasn’t that hard for me
to get the loan I needed,” said Caro
lina McCready, a junior majoring
in environmental studies. “The big
gest problem was all of the paper
work involved.”
Another type of loan available is
the PLUS loan. This loan is made
out directly to the parents of a stu
dent. The government pays no in
terest on this loan. It is, instead,
added onto the payment afi:er the
parent receives the second disburse
ment.
“I got a $2,500 loan that helps me
with my room and board and other
expenses,” said Sheri Carlon, a jun
ior psychology major.
“It was a long process for me to
get the loan because my dad lives
out-of-state. I got it two days after
fall semester started. This was a
problem because I had to make sure
my school schedule was still in
tact,” said Carlon.
There are several payment plans
available. “We have very flexible
payment plans,” said McElrath.
They’re optional for students.”
The standard repayment plan al
lows students to pay $50 per month
for ten years, depending on the
amount borrowed. There is also the
extended repayment plan in which
the student has 12 to 30 years to
repay the loan.
“Also available is the income con
tingent repayment plan,” said
Student landscape exhibit
7
An exhibit of UNCA student Rhett Thompson’s landscape oil paintings will open
Feb. 28 in Owen Hall’s 2nd Floor Gallery and will continue through March 11.
Thompson’s paintings, all untitled, are styled in the impressionistic tradition.
ircl
omm mu
Tuesday:
Wednesday:
Hamburger BAR for Lunch
Wednesday: Blue Plate special for LUNCH
W and PREMIUM Dinner
^ Thursday: Pizza inn for Lunch
Sect
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'Ps.
McElrath.
“This plan is based on the stu
dents income. The amount of the
payments adjust to the rise or fall of
the income. Students can also get
deferments in payment for a variety
of reasons such as transferring to
another school, attending graduate
school or becoming ill.”
“Since transferring from Purdue
University, I now have to fill out a
waiver form every semester because
of the loan I took out there,” said
Shiley Brisini, a junior sociology
major.
McElrath was concerned that stu
dents are sometimes contacted by
scholarship services which charge
them money to help find financial
resources.
“The financial aid office discour
ages students from using the ser
vices,” said McElrath. “We encour
age them to save money by using
the financial resources available at
Ramsey library.”
The financial aid office is
currently holding sessions about
financial aid for interested
students. The next session will be
held on March 3 between 12; 15
p.m. and 1:30 p.m. These
sessions allow students to become
more aware of the financial
resources available to them.
“The financial aid office will be
conducting a Senior Salute during
March 19 and March 20,” said
McElrath.
“This is a program designed to
keep students aware of what they
owe in loans. The program also
presents ways for students to pro
tect their credit and pay for gradu
ate school. Ways to consolidate loans
will be discussed as well.”
Aids
continued from
page one
HIV tests at UNCA cost $20;
however, an additional fee may be
required, said Pyeritz. If the test
results cannot be determined from
a test or a test shows positive re
sults, then the laboratory will con
duct a second test in order to con
firm the results. An additional fee
accompanies the second test, said
Pyeritz. “We get our test results
back in three to five working days.”
Once the test results come back
to the UNCA Health Services of
fice, they become confidential re
sults. Confidential means that a
name is associated with the test
results. “The test results do go on a
student’s chart, but it is strictly
confidential,” said Pyeritz.
“Our confidentiality policy here
at UNCA Health Services states
that nothing can ever be released
off a chart without a student’s writ
ten permission. The only way a
chart can ever be attained without
a student’s permission is if the chart
has been subpoenaed for court,”
said Pyeritz.
The initial blood test leaves the
office without a name or any other
type of association to the student.
Then, when the test results come
back, they become a confidential
part ofastudent’s chart. “Fiveyears
after the last semester in which a
student is ever seen here, the charts
are shredded arid burned,” said
Pyeritz.
The Buncombe County Health
Department also offers HIV test
ing. These tests are done anony
mously also, but there is no charge;
however, it takes a minimum of
two full weeks to get the test results
back.
EBANNER
WEEKEND
WEATHER
Temperatures will
be unseasonably
warm as It rains on
Friday and stays
cloudy all weekend
before dropping to
the freezing point
Sunday night.
FOR ASHEVILLE
Fri. 61/41 rain
Sat. 62/43 cloudy
Sun. 57/32 partly cloudy
TRAVEL FORECAST
ATLANTA
FrI. 68/48 cloudy
Sat. 69/50 cloudy
Sun. 64/43 partly cloudy
CHARLOTTE
Fri. 67/47 rain
Sat. 68/47 cloudy
Sun. 65/36 partly cloudy
GREENSBORO
Fri. 63/45 rain
Sat. 65/43 cloudy
Sun. 62/32 partly cloudy
KNOXVILLE
Fri. 58/43 cloudy
Sat. 58/32 partly cloudy
Sun. 57/32 partly cloudy
RALEIGH
Fri. 68/48 rain
Sat. 67/46 "cloudy
Sun. 64/35 partly cloudy
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