The Michigan Daily - Thursday, September 6, 1984 - Page 15
FUNDS AVAILABLE FOR NEED Y STUDENTS
Federal aid levels remain stable
By DAVID VANKER
Students who can't afford a college
education gained yet another reprieve
this year, as the federal government
h'ld its major financial aid programs
ator near last year's levels.
Soaring tuition - at $1,212 per term
for juniors and seniors, the highest of
any public school in the country - and
rising living expenses drove almost
119,500 University students to apply for
assistance from the financial aid office
for the 1983-84 academic year. 12,081 of,
them split the more than $49 million in
funds administered by the office.
THOUGH FIGURES for 1984-85 are
not yet available, Assistant Financial
Aid Director Lynn Borset said she ex-
pects the situation to stay pretty much
the same.
"We've skated through a little bit on
( he federal funding)," Borset said,
probably because it's an election
year."
,Most recipients of aid will get slightly
more money this year than they did last
year, Borset said, because the financial
aid office has revised its projected
student budgets to reflect increases in
tuition, room and board, and other ex-
penses.
aTo be considered for assistance from
Borset's office, students who are
alleady enrolled must fill out the Un-
iversity's standard application for aid
and submit the Family Financial
Statement to the American College
Testing Program. The deadline for the
fall and winter terms is in mid-April,
and ACT charges about $15 for its ser-
vices.
Incoming freshman who wish to be
considered for aid should check the ap-
propriate boxes on their admissions
application and submit either of the
family financial forms (FFS or FAF) to
ACT. The deadline for freshman is May
15, but Borset's office will accept ap-
plications through the end of Septem-
ber. Even after the deadlines, students
are considered for aid if any funds are
available.
STUDENTS SEEKING aid have a
staggering array of programs at their
disposal, through both the Financial aid
office and the various departments and
institutes within the University.
Major sources of assistance available
through the financial aid office include:
" Supplemental Educational Oppor-
tunity Grants (SEOG) - Available only
to undergraduates, these federally-
funded grants are awarded on thie basis
of need as determined by an ACT for-
mula, which takes into account family
and student income and savings.
Federal support for supplemental gran-
ts will remain around the 1983-84 level
of $1.2 million, and individual grants
usually amount to a few hundred
dollars per term.
" National Direct Student Loans
(NDSL) - Both graduate and un-
dergraduate students may receive ND-
SLs, but as with supplemental grants,
preference is given to students who
demonstrate the greatest need. Interest
on these loans is five percent, and un-
dergraduates may borrow a maximum
of $1000 per academic year, while
while graduates are limited to $2,000 ayear.
Payment of an NDSL begins six months
after the student leaves school and may
be deferred or cancelled if the student
enters into public or community ser-
vice.
" Pell Grants - These federally-
funded grants, available to un-
dergraduates who attend school at least
half-time and are not in the U.S. only
temporarily, are awarded to the
neediest of the students who apply for
assistance through the financial aid of-
fice. Government funding for Pell
Grants will remain near last year's
amount, $5.4 million.
" Guaranteed Student Loans (GSL) -
The perennial favorite among students
who either fail to qualify for other
programs or need more assistance than
the financial aid office can offer, GSLs
are obtained through commercial len-
ders and occasionally through the
University. Interest for students
borrowing for the first time after
January 1, 1984 is eight percent, down
from nine percent for students who took
their first GSLs between 1981 and 1983.
Currently, the loan :limit for un-
dergraduates stands at $2,500 per year
- for a maximum total of $12,500 - and
at $5,000 a year for graduate or
professional students - for a
maximum total of $25,000, including
undergraduate loans. But in July, a
group of graduate and professional
schools asked the Reagan ad-
ministration to raise the annual loan
limit for graduates to $8,000 and the
cumulative limit to $37,000. The
government has not yet replied.
" College Work-Study Program -
Students awarded work-study aid find
jobs on campus or with non-profit
organizations and the government
reimburses their employer for 75 per-
cent of their wage. Federal funding for
this program will top $540 million this
year, but financial aid officials report
much of the money goes unused.
Many students are also eligible for
University merit scholarships, and
Borset said her office encourages
anyone who needs money for school to
investigate all possible sources of
financial assistance.
i
Broke? Check out
area stores and 'U'
By MARLA GOLD
For many who come to the University
parental contributions and financial aid
often don't add up to cover the costs of
tuition, room and board. For these
students the only solution is to get a
part-time job.
Searching for such a job in Ann Arbor
may be difficult, but it's not impossible.
THE PLACE to check first is the em-
ployment board on the second floor of
the Student Activities Building. They
have listings there for various Univer-
sity jobs for secretarial positions to
research assistants. Last year over 270
jobs were listed but not all were filled.
If you were awarded a work/study
position from financial aid, you are
guaranteeda job. The pay will usually
be no more than the minimum, but the
short hours and experience more than
make up for that. Work/study is
probably the most overlooked of ways
to make money -- out of 3,527 openings,.
the work/study office was only able to
provide 2,652 employees.
Since most freshman will be living in
a dormitory, be sure to check out em-
ployment opportunities in the kitchens,
behind the front desks, on cleaning
crews, or in the snack bars. It may not
be the most glamourous job, but at least
the location is perfect.
Bars and stores in the campus area
are another place to look, but be war-
ned - these jobs are harder to get,
because the employment numbers are
so much smaller than University jobs.
The Count of Antipasto restaurant and
bar has a large turnover, which the
manager, estimates at about 5-10 people
per semester. They only hold ap-
plications for 30 days, though.
Most bars pay minimum wage to bar-
tenders and door help, and a little less
to waiters and waitresses, but the tips
are usually good.
Some clothes stores require ex-
perience while others do not. Marti
Walker, for instance, hires people
"depending on how they impress us,"
said one manager, although the tur-
nover there is very small.
For a little extra cash at the begin-
ning of the term, both University Cellar
and Ulrich's, the two textbook stores on
campus, hire about 100 extra people to
help during "book rush" which lasts
about two weeks. The pay is ok - $3.59
per hour - and a few people are able to
stay on after book rush ends, as more
permanent jobs rpen up.
The Student Activities Building at Jefferson and Maynard houses several
University divisions, including the Offices of Financial Aid on the second floor.
EXVE4IE N6E
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School days carry I I.. J 1Kt tt UI-IZI
Incoming freshmen walk-many for the first time-up the steps of Angell
Hall during orientation last summer. Now, walking up this set of steps is an
everyday occurrence for these students.
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We do all the work.
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U-M's award winning, all-campus
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The ENSIAN covers all aspects of college life,
including: sports, entertainment, organizations, Greeks,
campus life, and academics.
MASS MEETING
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Just fill out the RUSH SLIP below
(or pick one up in thetstore),.and hand it
to one of our clerks.
Voila! Your books will appear.
No searching shelves and pawing
through stacks looking for the right book.
We maintain an up-to-date list of required
texts. And, of course, any changes will
bring a cheerful exchange or refund (even
for dropped courses). Just return the
book with a receipt and in the same
condition as purchased.
And how much does this service cost?
Nothing. We guarantee it. If our prices
aren't competitive, we'll refund the
difference at any time within two weeks..
What more could you ask?
NOTE: Please specify if you want new books. Our
clerks are instructed to provide the best quality used
books available (and we've got a lot of 'em).
OPEN LABOR DAY
Monday, Sept. 3-Noon to 5p.m.
Check out the back page of
the Sports Section for the
complete schedule of our
Extended Book Rush Hours.
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