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Show 7 Hilltop Times Nov. 23, 1994 LJ3ES VA This increase is effective Nov. 30, and will be reflected in December DPP statements. AFFES converted DPP interest rates from fixed to variable rates in August. Account holders were notified of this change with a letter which included a copy of the new terms and conditions. "The change was necessary due to the rise in the prime lending rate," said AAFES Commander Maj. Gen. Robert F. Swarts. "Although AAFES was previously able to fund the program through available internal assets, its success meant AAFES has to borrow money from commercial sources to fund the increases. Now as the prime interest rate rises, our costs will rise. Our customers must understand this increase does not add profit for AAFES, it only offsets increased costs to finance the customer's loan refinancing attractive D.C. WASHINGTON, (AFNS) - Some 100,000 veterans who responded to a Department, of Vete? rans Affairs effort to inform them of the benefits of home loans will refinancing existing save almost $1.5 billion over the next 10 years. "VA's campaign earlier this year to reach veterans still holding mortgages with high interest rates has been a tremendous success and will have resounding effects for years to come," said VA Secretary Jesse Brown. VA's Interest Rate Reduction Refinancing Loan program allows a veteran with an outstanding loan to obtain at little or no cost a new loan at a lower interest rate by using the same entitlement the veteran previously used to buy the VA-guarante- ed VA-guarante- ed Washington St., Alexandria, Va. or call 22314-253- 9 (8762), Ext. 169. Ramstein runway to reopen - Diverted RAMSTEIN AB, Germany (AFNS) will airlift missions aeromedical and begin strategic 16 when the main runreturning to Ramstein Nov.three-month closure for way reopens after a nearly construction. Ramstein shut down main runway operations Aug. 29 to make preparations for the move of AB, Germany, and operations from Rhein-Mai- n other projects. The construction included some German-finance- d (payment-in-kind- ) projects associated with the parto the German governtial return of Rhein-Mai- n ment. The overruns at both ends of the runway were hardened, a new drainage system was installed, some taxiways were reconcreted, and an extension was added from one taxiway to an overrun. During the construction period, C-- 5 and strategic aircraft, as well as commercial cargo airAB, while aerocraft, were diverted to Rhein-Mai- n evacuation medical flights staged out of nearby Sembach AB. 1 The base's and aircraft were able to continue operations by using a taxiway for flight operations, 86th Airlift Wing officials here said. With the runway opening, a full schedule of flights will again be offered at Ramstein's passenger terminal, said Maj. Richard Vaught, aerial port operations officer for the 623rd Air Mobility Support Squadron. More information on Space-- travel opportunities is available by calling Ramstein passenger terminal or 5364, or commercial at DSN 480-243- 3 C-1- TROA offers interest-fre- e loans ALEXANDRIA, Va. (AFNS) Eight hundred loans from students received $2,000 interest-fre- e The Retired Officers Association Educational Assistance Program during the 1994-9- 5 school year. The loans, totaling $1.6 million, are awarded annually for up to five years of undergraduate study to unmarried undergraduate students, under the age of 24, who are dependent children of active, Reserve and retired service personnel and their surviving spouses. Since students can obtain up to $10,000 of interest-fre- e support for five years of undergraduate study and loan repayment is after graduation, competition for the loans is keen, according to - ar VA-guarante- ed AAFES Assistance Program Administrator (09D), 201 N. DPP accounts." home. VA sent letters to some 1.6 million veterans with mortgages ranging from 8.5 percent to 17.5 percent, explaining its streamlined program. The average monthly saving for the 100,000 veterans who converted their loans is $123, or $14,760 over an average loan life of 10 years. The total savings in payments for these veterans for the period is nearly $1.5 billion. Veteran homeowners who have difficulty locating a lender who offers loans should call the VA at for additional information, including a list of lenders who offer IRRRLs and those that do not require an appraisal or credit check for these loans. 10-ye- . awarded loans were automatically considered for the grants, TROA said. TROA is accepting applications for the 1995-9- 6 school year now. Applications should be requested by Feb. 15, and the completed application must be postmarked on or before March 1. For applications and more information, write to TROA Educational interest rate to increase C-1- C-2- 0, Since students can obtain up to $10,000 of support for five years of undergraduate study and loan repayment is after graduation, competition for the loans is keen, according to TROA. For the 1994-9- 5 school year, some 2,000 students competed for 250 openings. The students were selected on their scholastic ability, participation in extracurricular and community activities, as well as financial need. From 800 students receiving loans, 160 also received special $500 grants. All who were The recent increase to the Federal Reserve Board interest rate resulted in an increase in the prime lending rate. This increase will directly affect the interest rate Army and Air Force Exchange Service customers pay on their Deferred Payment Plan accounts. DPP interest rates are calculated by adding 4.75 percent to the prime rate. Because of the Federal Reserve's three-quarter-s of a percentage point increase on Nov. 15, DPP will now go to 13.25 percent. interest-fre- e short-ter- m C-2- C-1- space-availab- le A 06371-47243- 3. Schubach JEWELERS 2336-- A Ogden City Mall JOE JONES MANAGER CMSgt (Retired) 621-517- " W DON BARNHOUSE SMSgt. (Retired) 0 tfJewcldairC Our Holiday Wishes Sale Is Now Going on through Christmas! 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