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March 21, 1988 - Image 19

Resource type:
The Michigan Daily, 1988-03-21

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0 MARCH 1988 Dollars and Sense



Go East! At the starting gate
Student exporters have a You've got this great idea
business rising on the for a business, all you need
Eastern 'Horizons.' is the money.
Page 10 Page 11

I-1-1-i-t-e-r-a-c-y Investing in ethics
W-wh-y ca-an't th-the-se NY stock exchange chair
ad-du-l-ts re-ea-d? wants investment industry
to cut the bull.
Page12 Pagel10

Good works could cut loan debts

By Lizabeth Lacey
The Minnesota Daily
U. of Minnesota, Twin Cities
Student loan debts don't disappear.
But if a new bill recently drafted by U.S.
Rep. Gerry Sikorski (D-Minn.) passes,
the debts could be decreased to less than
one-third their original size.
The bill would allow college gradu-
ates to reduce their loan debts by work-
ing in community-service jobs for non-
profit organizations. The government
would in turn pay up to 70 percent of
their loan debts during a four-year
"We must encourage America's young
people to reject the corruption seen at
the White House, on Wall Street and (at
the) pulpit, and become involved in
their communities," Sikorski said.
Under the bill, 15 percent of a stu-
dent's total loan debt could be cancelled
during the first year, another 15 per-
cent of the original debt in the second
year, and 20 percent of that same
amount during both the third and
fourth years, for a total reduction of 70
Many people say the bill probably
won't be seriously considered until the
federal budget deficit and student-loan
default rate are brought under control.
But Sikorski said the program would
provide an invaluable resource to com-

Some sources in Washington said
they doubt the bill could pass until the
deficit is brought under control.
"Given the current budget concerns,
debt forgiveness is not high on the list of
priorities," said Curt Smith, press
secretary for U.S. Rep. Dan Coats (R-
Ind.). Gray Garwood, staff director of
the U.S. House Subcommittee on Post-
Secondary Education, agreed. "It has
nothing to do with the content of Sikors-
ki's bill. We're struggling to find every
penny we can."
Others said the recent high number of
student-loan defaults would not make
the government very sympathetic to-
ward Sikorski's bill.

U. of Minnesota Student Association
President Judy Grew said the idea was
"just wonderful. But I want to make
sure that this program is a supplement
rather than a substitute for Pell grants
at the state level."
* Out of an estimated $5.9 billion in de-
linquent loans, $1.9 billion is owed in
campus-based National Direct Student
Loans (NDSL) and old Federally In-
sured Student Loans (FISL), while $4
billion is owed in GSLs. This year, the
government will pay off $1.6 billion to-
ward the GSL subsidy and default costs.
Overdue NDSLs and FISLs are tradi-
tionally collected through collection
See SERVICE, Page 11

IN cs i CC txA~f O 'ToPV 0 CERLY VO5 0 O4
A OO AT4' scw -
B-School winning essays

Lib Arts major
may be best bet
for biz success
By Barbara J. Jones
The Daily Universe
Brigham Young U., UT
Many excellent job and graduate
opportunities are available for humani-
ties graduates, according to informa-
tion presented in the annual College of
Humanities career workshop.
Douglas Thayer, associate dean of the
College of Humanities, said there are
many corporate and governmental job
"Humanities graduates. are much
more in demand because theyknow how
to think and write. They have a sense of
cultural history," Thayer said. "They
know how to deal with changes."
Humanities graduates' strong back-
ground in ethics also attracts corpora-
tions. "This is one of the important
things in corporations today," Thayer
As for graduate schools, Don Blox-
ham, health professions adviser, said
humanities graduates have a higher
acceptance rate to medical school than
the national average. "According to the
1988-89 Medical School Admissions Re-
quirements, 65 percent of the English
graduates and 57 percent of the foreign
language graduates who applied to
medical school were accepted in 1986.
The national average of acceptance was
54 percent," Bloxham said.
Don Norton, chairman of pre-law

By Charles Lieurance
Daily Nebraskan
U. of Nebraska, Lincoln
To be honest, I don't know what peo-
ple do with master's degrees in business
administration. I see people go into the
College of Business Administration and
I see them leave. I see businessmen
downtown on their lunch breaks in
dark, fashionable ties and conservative
suit coats and slacks.
But once they get "busy" doing "busi-
ness," they lose me.
Sometimes I receive review copies of
new books-strategies for business ma-
jors, how to dress for business, how not
to get lost in the crowd at business
school-and instead of reading them, I
reach for the new Bloom County book or
the review copy of the latest U2 album. I

remain unenlightened.
Then the other day there was only one
book in the mailbox. I tried to ignore the
book. I waited for the afternoon UPS
delivery. Nothing. I searched the edi-
tor's desk. Nothing.
Finally I was forced to take the book
out of the mail slot and deal with it.
Essays That Worked For Business
Schools didn't promise martial arts
scenes or Beverly Hills leopard-skin-
clad starlets sitting on the hoods of red
What it did promise was "35 essays
from successful applications to the na-
tion's top business schools with com-
ments from admissions officers." Prom-
ises, promises.
On the back cover, editors Brian Kas-
See ESSAYS, Page 11

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