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Show Tbe Daily Utah Cfcrsaicli, FrUsy, Pictarttr 7, Itt PaseFifteca NEWS Utefo sftydeimit loan deffaufe lloweir than State will follow trend to clamp down on payments by Shauna Bona Chronicle Staff Gressman said this is because while Utah programs have been growing, the regulations have become stricter and the programs more efficient. However, state agencies are always trying to improve the system in case the rate begins to increase, she said. The Utah Higher Education Authority Board (UHEA) met last week to discuss ways to keep default rates low. One proposal, requiring students who was rejected want loans to find a because it made access to student loans too difficult. The student loan default rate in Utah is low compared to tbe national average, but state agencies are still scrutinizing programs to eliminate waste. Alice Grossman, of the Loan Servicing Corporation, said Utah is following a national trend to clamp down on people who don't pay back loans. "There is a national committee looking into deterring or decreasing the default rate,' she said. "And the states, feeling they have a mandate to cut social spending, are looking into suggestions too." The default rate in Utah is 2.8 percent, which translates into $2.8 million that people haven't paid back to the state since co-sign- R Ml' er, Delaware, the only state to require a the program did not decrease default by any significant amount. co-sign- er, The national default average default rate Instead, it caused administrative burdens and made it tough for students to get loans. Hayes said UHEA is considering two other proposals to keep default rates low without limiting student access to loans. The first proposal is to insure students understand they must pay back loans. The default figures are calculated from the amount of loans that students are supposed to be paying back now either because they have graduated or left school. There is $98 million in loans currently being paid. After a student is 120 days late in beginning the payments, the lender can make the state pay the money, putting the loan officially in default. On a national level, default rates have increased as loan programs have grown. However, in Utah where between $41 and $43 million in loans are made each The second proposal would deter students from defaulting on their loans by publicizing default cases that the attorney general is actively investigating. Gressman is confident this will be effective. "If students see that the government is really taking action to collect loans, they will realize they cannot get away with not paying, and maybe they'll be more the default rates have remained conscientious," she said. stable. University of Utah student seeks help at the information desk at the Office of Financial Aids and Scholarships. The office may be one of those enacting proposals by the Utah Higher Education Authority Board to clamp down on student loan defaults. A UHEA is also proposing that credit unions be informed when students owe money for GSL or NDSL loans. Under the current system, students do not have to report money they owe on student loans when they apply for other bank loans. Gressman said this makes it look as if the student can pay off a bank loan easier than they really can.. Thus, students Now available on cassette Listen, don't iread Cliff Notes by Darren Hawkins Chronicle staff Picture this scene. A student has an upcoming essay test on "Hamlet," but has absolutely no time to read the play. For some, the traditional solution to this problem has been to rush to the local bookstore and buy Cliffs Notes on "Hamlet." But now technology has made life even simpler than this. Why even bother to read in the first place? The same company who produced Cliffs Notes has now unveiled Cliffs Cassettes. Just pop it into the car stereo or home tape recorder and commentary on a work of literature instantly springs to life. No eyestrain necessary. However, a spokesman for Cliffs said any student expecting to use them in this way might be disappointed since they don't even offer as much information as Cliffs Notes. is good information on there. It certainly isn't students to listen to them, but they can't take hurt to going the place of actually reading the book," he said. Despite the fact that Cliffs Notes are used extensively by students, the spokesman denied Cliffs Cassettes are marketed only for students. "We presume there will be students who listen to them, but that's not what they're designed for. Cliffs Cassettes are designed for people who don't take the time to read. It isn't aimed at the juvenile market," he said. "There t v " The spokesman said possible customers include e S 5 A University ever-popul- ar L. "is scholarships and loans in the Financial Aids and Scholarships office, said in is 4.8 percent. .. ,J '-- Patricia Hayes, coordinator for 1980. year average of Utah student browses through the Cliffs Note at a local bookstore. The Notes are now available on cassette tapes for those who dislike reading. "people who listen to cassettes in cars, housewives, people who are unable to continue their education" and others. Much like Cliffs Notest the cassettes are designed to be a commentary offering facts and study questions about the work. I And although they do offer a sketch of the plot and selected dramatized scenes, the cassettes are not a mere reading of the work. At this early stage of develpment, topics for the cassettes are limited and include twelve classics ranging from The Scarlett Letter and the Odyssey to Huckleberry Finn and Frankenstein. More classical works will become available in the future. Retailing for $7.95 each, the cassettes made their debut at the first of September and are selling quite well nationally. However, local bookstores report the idea is not catching on in iialt Lake Ckys- - often get too far into debt to pay back student loans. Last week the lenderschool compliance proposal was adopted. Under this plan, both lenders and schools agreed to be audited by the state every other year. "The audit won't be to police schools and lenders, but to take care of things that are being done wrong," Grossman said. Sell back books at 2 stores for 60 of list price by Marva Bickle Chronicle staff Students now have two places where they can sell their used books back for 60 percent of the current list price the University Bookstore and Discount Book and Supply (DBS). The process behind buying books back is complex, but to students the only thing that counts is the amount of cash they get back. Before the end of each quarter, University Bookstore Director Wayne Arnett sends out a notice asking faculty and staff to turn in their book lists for the following quarter as early as possible. Once faculty members have submitted the titles of books they'll be using, the University Bookstore sends the list to DBS (formerly Folletts Varsity Bookstore). The total number of book titles is usually around 2,000. The University Bookstore carries all titles and DBS carries around 1,000. Luke Han, manager of DBS, said they are aiming toward 100 percent, or carrying every title for every course. Both stores offer students 60 percent of the current new list price as long as the book appears on the list of titles for the next quarter. Since the University Bookstore carries more titles, Arnett said they are able to buy back more books. Also, both stores offer new prices on used books. This means if a student buys a used book, both stores will buy it back for 60 percent of what it would sell for new. Some students wait a couple quarters before selling their books back because over a period of time some publishers' prices go up. Both DBS and the University Bookstore will pay 60 percent of the increased price. At DBS however, there is one stipulation. The book must be in resaleable condition. The University Bookstore has its own stipulation. They will only buy back the number of books that instructors have designated they need for the following quarter. However, if a student wants to sell back a book that doesn't appear on the title list for the next quarter, the student has the option of |
