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February 08, 1988 - Image 19

Resource type:
Text
Publication:
The Michigan Daily, 1988-02-08

Disclaimer: Computer generated plain text may have errors. Read more about this.

FEBRUARY 1988

U. THE NATIONAL COLLEGE NEWSPAPER 9

FEBRUARNYTYL 1988UR UNEY CAHER AINLCLEEONEWISAE
r Buddies Scraping by Finance jobs alluring Teeing off in business
A American U.'s Big Students budget to Finance management jobs Golf is an advantage in
Buddies offer more than prevent skimpy meals at attract students from all the business game.
just 'help with homework.' month's end. walks of life.
Page 12 Page 11 Page 10 Page 10

.PEOPLtE W? ME UT AN
EVUCAt0N WOU? IAPAKE
ME OPE A WEAt-NG.
6U6R40 '5 00a, WT
Tough ne
Students face
hard times
By Michelle Allen
The Daily Kent Stater
Kent State U., OH
Experts from the U.S. Department of
Education project a 15 percent reduc-
tion in the number of GSLs awarded to
undergraduates and 25 percent for
graduate students, according to the
Chronicle of Higher Education.
In 1986, Edward Irish, former Kent
State associate director of Student
Financial Aid, conducted a study on the
impact the 1986 Higher Education
Amendment would have on the GSL.
program at Kent State.
Last year 6,571 students received
GSLs. The study projects that of that
same number, 3,749 students will re-
ceive reduced GSLs. Of these 3,749 stu-
dents, 806 will not be eligible for any
GSL. Last year Kent State certified a
total of $13,000,160 in GSLs. This year,
according to the study and the associate
director of Student Financial Aid Theo-
dore Hallenbeck, KSU is projected to
certify $3,087,823 less.
Kent State administrators were anti-
cipating reductions in loans since Con-
gress made changes last year, but few
students were prepared for the cuts.
Shelly Wilson, 19, a junior interior
design major, lost $2,300 of her GSL
this year. Wilson has received the max-
imum amount available, $2,500, for the
past two years. This year she is eligible
for only $200.
"My family is struggling to keep me in
school," she said. "Two hundred dollars
won't even buy my books."
Speculating about why her GSL was
so dramatically reduced, Wilson said, "I
guess it is due to the new laws consider-
ing parents' assets when calculating
how much families can pay for college.
"We're not rich. We bought a new
house which is highly valued and this
took my GSL away. Being an out-of-
state student, I need the financial aid
even more."
According to an article in the Con-
gressional Quarterly, congressional
aides say lawmakers cut the number of
students eligible for loans when revis-
ing the Higher Education law in an
effort to curb the loan program's grow-
ing cost.
See GSLs, Page 12

50 t flIET AIR1Y 0
AND' OEFOR6 1WNWi I,
i 'iJP5 1PAiNG W t OANb
TO PAY fO M4Y l-lCK.

Me)T AND I CANT
LI DC J6

w law cuts GSLs

ureg wauey Nates normal Iobs, so ne uegan his own refrigerator rental service.

By Sarah Stettler
Daily Nexus
U. of California, Santa Barbara
"I like to go out with my friends. I like
to get wild. But-I don't know. Some-
times my brain just won't stop thinking
about it-ways to try to make money.
Everything I see-it's like psychotic,"
U. of California, Santa Barbara sopho-
more Greg Wadley said.
Wadley surfs, he parties, he's into
sports-but there is something diffe-
rent about him. He has a certain entre -
preneurial air.
Wadley's motivation comes from a
fierce sense of independence combined
with a marked distaste for the ordinary.
"I hate working for hourly wages.
Whenever I get a job, I end up hating it
within three weeks."
He also has an eye for opportunity.
"You see something that works in
another town, something that you
might need, then other people need it
too," he said. When asked about his
apparent preoccupation with devising
new ways of making money, Wadley
said, "It doesn't really bother me that
much. It just gets out of hand some-
times when it's (money) the only thing I
can think about. It usually goes away. A

few beers and it goes away."
At Francisco Torres dorm, where
Wadley lived last year as a freshman,
there was a large demand for dorm re-
frigerators but a small supply. The re-
frigerators F.T. offered for rent were
also "really expensive" and the students
had to transport them to and from their
rooms on their own, Wadley said. So he
bought 10 dorm fridges from a refrigera-
tor distributor. He posted signs and
waited, but not for long. At $65 per year,
plus a $15 returnable deposit, his hunch
was right on the money-the service
was appealing, especially to cost-
conscious freshmen who didn't want to
deal with F.T.'s system.
His refrigerators were newer, cheap-
er and he offered drop-off and pick-up
service. He arranged a maintenance
agreement with a private company,
rented a truck to transport the re-
frigerators, and delivered them to wait-
ing customers within a few days of their
order.
After the students were done with his
refrigerators in June, he retrieved them
with few problems. The only difficulty
arose during finals, when Wadley found
himself sharing his tiny dorm room
See Fridge, Page 12

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