Page 14-B-Thursday, September 4, 1980-The Michigan Daily Financial Aid Extra $$tothe rescue 4 al By JOYCE FRIEDEN For many students, the success or failure of a college education depends primarily on finances. Students from wealthy families are able to afford the spiraling costs, while students from lower income families face constant pressures to meet their expenses, which can cruelly compound academic pressures. The University administration has expressed its awareness of this inequality, and has established an elaborate financial aid system to help deserving students make ends meet. AID IS AVAILABLE'to both graduate and undergraduate students in the form of grants, scholarships, and loans. The money for these programs comes from University funds, the state of Michigan, the federal government, and assorted private donors. The first place aistudent should go if he or, she is interested in receiving fun- ds is the University's Office of Finan- cial Aid (OFA), located at 2011 Student Activities Building. The office is responsible for coordinating distribution of all the University's financial aid funds. The OFA is also in eharge of helping students receive federal grants and loans and seeing that students are aware of aid oppor- tunities. This latter part of the OFA's job. begins even before the student comes to the University. On the admissions ap- plication is a box students can check if they want to be considered for financial aid. If the box is checked, the student will receive a Family Financial Statement to fill out and return. This form gets sent to the American College Testing service, where the student's amount of need is assessed. The results are then sent back to OFA, which determines the final award. THE FINANCIAL aid office is also in a position to inform students if they are eligible for certain private scholar- ships.' "When a student is admitted to the University, he or she is put on a list," explained Assistant Director of Financial Aid Paulette Stallworth. "Our office checks the list and then notifies those who are eligible for the larger scholarships, like the Michigan Annual Giving Scholarship and the, a i rat ,4 4804 -.4 YS d1 Financial aid forms... Regents' Alumni Scholarship," she said. In addition to private and University funds, the federal government offers several programs to deserving studen- ts. Two forms of grants are available: the Basic Educational Opportunity Grant (BEOG) and the Supplemental Educational Opportunity Grant (SEOG). The former is an award ranging from $200-$1800 and does not have to be paid back. It is open to any student who demonstrates adequate financial need (as determiend by OFA). The SEOG is similar, except its money is used as part of a financial aid "package" to supplement other forms of aid. Two kinds of loans made available by the government include the Guaranteed' Student Loan (GSL) and the National Direct Student Loan (NDSL). The GSL is a loan, charging 7 per cent in- terest, made to the student by a bank or the Univesity. The amount of loan money available ranges from $2500 a year to undergraduates to $5000 a year for graduate students. Unlike the National Direct loan, a student does not have to demonstrate financial need to qualaify. In addition, a student does not have to begin to pay back the loan until nine months after graduation. The, NDSL is a low-interest loan requiring a student' to demonstrate financial need to qualify. Like the Guaranteed Student Loan, a student does not begin to pay back the loan until he or she is graduated. The interest rate on ND$L's is currently 3 per cent. FINALLY, THE federal government makes some educational funds available in the form of College Work Study (CWS). Through this program, a student can pay for his or her education by earning a specified amount in a work/study job. The University offers 1500 such jobs with the $2.2 million it is allotted in work/study funds. Jobs available include anything from typist to researcher, with the largest em- ployer being the Recreation Depar- tment. There has been a change in the types of financial aid applied for by students, according to Associate Director of Financial Aid Jim Zimmerman. Since the government lifted the income ceiling off the Guaranteed Student Loan, applications for the program have gone up 100 per cent across the nation, Zimmerman said. In addition, many work/study jobs remain unfilled. "Incoming freshmen seem to have a different attitude (than last year's class)," Zimmerman said. "The new students are more concerned about success-they spend more time on the books and less time on the job," he ad- ded. The Office of Financial Aid is not the only place a student can look to for fun- ds. According to Mary Jackson, who takes care of scholarships and grants administered through the OFA, studen- ts are encouraged to inquire at their in- dividual college. "Each school or college has some money that doesn't get administered through this office," Jackson explained. "We advise studen- ts to check out the college they are enrolled in to see if there are additional scholarships available," she said. The Alumni Assocition is another potential source of funds. The Alumni Associaiton includes 60 alumni clubs which are dispersed throughout the country. Each club raises funds and awards money, based on its own criteria, to students from its com- munity, according to Edith Bletcher, the association's director for Alumni Services. Stallworth said that all 'students should apply for financial aid, even if they are not sure they are eligible. "We encourage students to apply and find out whether or not they are officially eligible," Stallworth said. "All they have to do to get things going is tell us that they'd like to be considered for aid," she added. 4 Daily Photo by DAVID HARRIS THE CENTRAL CAMPUS RECREATION BUILDING (CCRB), located on the corner of Washtenaw and Geddes, is the largest of the three recreation buildings. It features a pool, four basketball courts, squash and racquetball courts, a weight room, and a sauna, among other facilities. Fall Sept "-Dec. 19 CC(RB fi IMSB3 NCIMB M -F Sat. M -F Sat. Sun. Sat. Coliseum opens Sept. 15. 198(f M-F Sat.. Sun. Winter /F'irst lialIan. 5-IFeh. ('('RB M-F' Sun. IMSI3 N('IB M -F Sat. Sun. M-F Sat. Sun. NI -F Sat- 7:1H) AM-I0:(OOPM 8:0X) AM-10:(X) IM 7:45 AM-10:(OxPM 8:00 AM-S:01 PM 3A:0) PM-10:(X) PM 7:(X) AM-10:(X) PM 8:00 AM-10:00 PM 31:00) PM-7 :(X) I'M Closed :(m)AM-i:4)OPMI 8:0) AM-I :00 PM NMoon-11)) :I'M 7:45 AMA-1:00 PM 8:0) AM-8:oo PM 3:00 PM-11 :0 PM 7:00AM-10:00 PM 8t(44AM-Io:0() PM 2:04) ^M-I0:00 PM 1 :0) PM-wo:oPM (N)04 AM-1':01) PM 7:ooAM-10:100PM 8:04) AM-10:oo PIM Noon-l0:044 IPM 7:-45 AM-104:00 )PM :00 PM10:0( PM 7:OAM10:4K)IPM 2:00 M -10:00 ) PM 3:4(H) I'M-6:0 0(4 IM ('losed Nov. Closed Dec. 19(Closes 71PM Nov. 26 Closes 5 PM Nov. 27-Nov.(30 Closed Dec. 19('loses 5 PM Nov. 27-29 (losed Dec. 19Closes 7 PM Nov 27-:30 (Closed Feb. 20 Closes 9I PM Feb 20 Closes 5 PM F'eb) 204 ('oses 10) I'M F'eb. 204 ('loses 5 PitM May! ('loses 7 PM May I ('loses 5 'M Mav (Closes7PM 4 4 I Winter/ecoind Hal Muar. 2-Nla' I ( CI1111 N-F' Sil. I MSIISun1 581.f sett. 1 11-F 8:4))ANI-5:444)%1 selli. M-F Sat. Sun. NI -F' Sat. 'I Coliseum ,. ,. x r , THIS YEAR the three campus recreational buildings, CCRB, IMSB, and NCRB have posted new hours determined by a computer study measuring peak hours of use for each building. For a complete sport-by-sport schedule including hours during semester brtaks; pickup a drop-in schedule available at any of the three facilities. 1. .. -- , ^ _ ., d ti . = f _, .. ', "-)4 RENTAL 4, q n i Cyr 00 r REFRIGERATORS /1 W ill CJ- 4 r° .xs. a. xupl gll IK"o- f . for a day I E N Students have needs. And life can be empty if they go unfilled. Ulrich's can help. We have art prints and frames to decorate your room, lamps to light it, Michigan souvenirs for fun, gifts, pens, calculators, and other supplies. And, of course, books. We can help you make a home away from home. $32.00 per academic year 4 * Free Delivery and Pick-up * Guaranteed to work _- eS -*. CONTACT: ANN ARBOR MUSIC MART 336 S. STATE STREET ANN ARBOR, MICH. I 1