Nov. 4, 1988 The News Argus PAGE 3
NEWS
NOTES
Applications Due in May
For Scholarship Fund
STAFF REPORT
The Ralph McGill Scholarship Fund is
offering scholarships of up to $2,000 each to
students with Southern backgrounds who have
completed at least two years of college, accord
ing to Jack Tarver, chairman of the scholarship
fund.
May 1 is the deadline for submitting appli
cations. Tarver said that a number of scholar
ships are awarded each year to students who
have demonstrated a long-time interest in the
news and editorial phase of newspapering.
Scholarships, he said, are limited to young
men and women whose roots lie in the South.
Applicants must also convince the awards com
mittee that they firmly intend to pursue a c£u-eer
working in daily or weekly newspapers.
Successful applicants will be required to
maintain a B average in order to keep the schol
arship.
A letter of not more than 500 words telling
why the applicant wants a scholarship, an offi
cial transcript together with a photograph of the
applicant , must accompany each application.
Applications also must have a letter of recom
mendation from a college authority.
Application blanks may be obtained from:
The Ralph McGill Scholarship Fund, Box 4689,
Atlanta, Ga. 30302.
Educational Loans Help
Students and Parents
With fall terms just beginning, some stu
dents and parents may need help with educa
tional expenses. If so, they may want to consid
er student or parent loans available through Col
lege Foundation Inc. for enrollment at any ehgi-
ble college, university, technical or vocational
school, said Mary Bland Jones, the communica
tions coordinator for CFI.
College Foundations is the central lender
in North Carolina for Stafford Loans, once
known as Insured Student Loans; Supplemental
Loans for Students; and PLUS Loans to Parents.
The Stafford Loans are awarded based on
need, but the supplemental and PLUS loans are
not, Jones said.
North Carolina residents may apply, even
if they attend college out of state. Out-of-state
residents may apply if they attend college in
North Carolina.
Stafford Loans are for dependent or inde
pendent students in undergraduate, graduate or
professional programs of study and are based on
financial need. Eligible undergraduate fresh
man and sophomores may borrow up to $2,625
per year; undergraduate juniors and seniors, up
to $4,000 per year. The loan maximum for
graduate and professional students is $7,500 per
year.
The interest rate on Stafford Loans is 8
percent per year for new borrowers. Repayment
of the loan principal does not have to begin until
six months after the student graduates or drops
below half-time enrollment. Most borrowers
have financial need, and they therefore, the fed
eral government will pay the interest until the
repayment period, Jones said.
Supplemental Loans for Students are avail
able to the undergraduate independent students
and, in some cases, undergraduate smdents who
are dependent, or graduate and professional stu
dents, Jones said. These loans are appropriate
for students who do not qualify for the interest-
subsidized Stafford Loans or need assistance in
addition to a Stafford Loan.
Students do not have to demonstrate need
in order to qualify for Supplemental Loans for
Students. Under this program they may borrow
up to $4,000 per year with limit of $20,000.
Interest is a variable rate set annually. The rate
until June 30 is 10.45 percent.
Students with Supplemental Loans may
postpone the required payments on loan princi
pal as long as they are enrolled full-time. They
are, however, responsible for paying the interest
monthly or sign an agreement authorizing CR
to add the interest to the loan principal, Jones
said.
PLUS Loans are for parents of dependent
students and are not based on financial need.
The interest rate until June 30 is 10.45 percent.
Under the PLUS Loan Programs, parents
may borrow up to $4,000 per year per depen
dent student, with limit of $20,000 per student.
Parents must show the ability to make the
required monthly payments.
Jones said that the advantages of PLUS
Loans are: low monthly payments over a long
repayment period, cash while the student is
enrolled in college, and the opportunity to
accelerate payments at any time without penal-
ty-
Repayment on a PLUS Loan begins within
31-60 days of the date the loan is issued, but the
monthly payment may be as low as $50 per
month, depending on the amount and number of
loans. The maximum repayment period for
each loan is 10 years.
Students and parents can get more infor
mation about CFI's loan programs from college
financial aid officers of College Foundation
Inc., P.O. Box 12100, Raleigh, N.C. 27605.
International Student
Scholarship Announced
The seventh annual International student
scholarship competition- a nationwide essay
competition for international students studying
in the United States - is now underway. The
International Underwriters/Brokers Inc. spon
sors the competition.
First prize is $1,500 to be used for academ
ic or professional advancement. International
Underwriters/Brokers also will award $350 to
the office for International students at the win
ner's school.
Deadline for the competition is Dec 1.
International students interested in entering
must submit an essay of no more than 1,500
words on this topic:
"Important cross-cultural clues are often
found in humor. Compare humor in your coun
try with humor as you find it in America.
Include examples of humorous situations result
ing from cross-cultural misunderstandings,
either in the United States or on your first visit
back to your home country?"
Additional scholarships will be awarded to
a second-place winner (S1,(XK)); a third-place
winner ($500); and five honorable mention
recipients ($100 each). The conipclition is open
to all full-time foreign students enrolled in a
prescribed degree- or certificate-granting pro
gram at an accredited high school, junior col
lege, college or university witlnn the United
Stales. Also eligible are studenLs enrolled in an
English training program who plan to pursue
higher education in the United States.
For additional information, rules and entry
forms write: Essay Competition Coordinator,
DSD Communications Ltd, 10805 Parkridgc
Blvd., Suite 240, Reston, Va. 22091.
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