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Show A4 NEWS AUGUST 12, 2013 Student loans locked in for another year Congress passed a bill on student loan interest rates By Nicole Shepard News Editor @NicoleEShepard President Barack Obama is expected to sign a student loan bill into law that, for now, will lower student loan rates from 6.8 to 3.86 percent. Congress passed the measure on July 31, tying interest rates on federal Stafford loans to the financial market. Linking the rates to the economy will keep the rates down while the economy struggles, but rates will rise with increased economic stability. What is good for the nation may not be good for future students with this change. The Federal Reserve Board predicted, as reported by Time magazine the first week of August, that the United States will see within the next three years continuous economic growth. This growth may indicate that there will be an "economic pop" while the economy gains momentum. If this prediction holds true, the student loan rates will raise steadily of the next four years. "The major concern is what not fixing the rate could do to borrowers in the future," Phil Matthews, student loan consultant, said in a previous interview. "With just a couple of hiccups it could become a case of future generations paying for those who had the luxury of borrowing at a lower rate. It's not a sure thing that will happen, but it's a fair possibility." For undergraduates borrowing from the government this fall, the interest rates are approximated to be 3.86 percent, as estimated by the House cornmittee. Though the interest rates are tied to the economy, the new plan caps off the rates at 8.25 percent. The interest rates on Stafford 66 I still believe we need to address college affordability in a comprehensive way. SEN. AL FRANKEN D-MINN. UU loans doubled from 3.4 percent to 6.8 percent on July 1. The new bill contains a retroactive clause that will change the rates of any loans taken out in the month of July to match the new rates, lowering them. The new plan passed the House 392-31 but was met with opposition. Rep. Keith Ellison, DMinn., who said he voted against the measure because it would likely increase the cost of attend- ing universities over time. "We are undercutting the future opportunities of America's children," Ellison said in a statement, "and compromising our economic vitality with the bill passed today." Rep. John Kline, R-Minn., who sponsored the House bill, said on July 31 that he was pleased both parties compromised on a longterm solution based on the market. "Changing the status quo is never easy," Kline said, "and returning student loan interest rates to the market is a longstanding goal Republicans have been working toward for years." The Senate put their stamp of approval on the bill with an 81-18 vote. Sen. Al Franken, D-Minn., voted for the bill, which he said was "the best deal possible" in a press release. "I still believe we need to address college affordability in a comprehensive way," Franken said in the release, "and I intend to keep working on this issue be- cause students shouldn't be saddled with insurmountable debt when they graduate." Though students borrowing for the 2013-2014 year can breathe a little easier, missing the 6.8 percent interest rates of just a month ago, those borrowing for the 2014-2015 year may need to start planning a different mode of payment. "There is a very real chance that the worst case scenario of hitting the cap-off rate of 8.25 percent is only a few years away," Matthews said. "If the economy keeps heading in the direction that it currently is, it's likely that next July the rate will increase to the 6.8 percent that we feared this year, with no way of changing it. But looking on the bright side, if the economy does continue to improve as it looks like it will, there will be more jobs paying better salaries to help pay whichever loans you have." The federal Stafford loan interest rates are subject to change every July 1. CLASSIFIEDS HELP WANTED Looking for a website designer for a local project Work your own hours around your school! Call 801-373-2444 Don't Pay Rent Far from Home? Need a Family? Fun-loving family needs a LIVE-IN Mother's Helper. Don't pay rent, come stay with us! Private bedroom, bathroom, newer home just minutes from UVU. Call Ember at 801-804-6724 if you are responsible, hard-working, compassionate and have high LDS standards. Flexible hours, including: cleaning, babysitting, errands. MISC DANCE WORKS 66 AVIATION from Al RESIDENCY from Al for of aviation science and public services with UVU's student council, he spends several hours a week making students aware of opportunities at the school and within student government. "I've really enjoyed learning from the exceptional faculty that make UVU's aviation program one of the best in the nation," Lopez said. "Working with so many about a month ago. "We had nothing to do with it," says Anne Money, residency coordinator. "The state called us and told us we were doing it wrong." Not everyone in congress supports bills like the DREAM Act, which would give permanent residency to immigrants that qualify. When Mitt Romney ran for president in 2012, his plan was selfdeportation and an end to the DREAM Act. The DREAM Act has come a long way since it was first proposed. Now, it's not just the citizens, but congress as well, that is viewing this issue differently. "Students come in, and I certainly can't do anything about it," Money said. "But the legislator or voters can." All students, regardless of their status, are part of the future, and every politician agrees that a future with educated people is a brighter future. In 2012, President Barack Obama took a big step to help the youth in this country that were brought here illegally by their parents by deciding to stop deporting young immigrants. Instead, he wants to provide them a pathway to citizenship. "The new law does not help immigrants receive residency at UVU," Money said. Financial aid is also an opportunity that illegal students cannot obtain due to their status. The last option that a student re- 66 Pursuing aviation has been exciting, to say the least. It's technical, and it's a fun skill. I get to take to the skies. ROBERT LOPEZ Scholarship recipient UU like-minded people has made me even more determined to pursue my goal of earning my degree and flying commercially." Lopez belongs to the professional pilot fraternity Alpha Eta Rho and is a member of UVU's National Intercollegiate Flight Association team, which cornpeted at the national finals this spring. A 2007 graduate of El Toro High School, Lopez earned his private pilot rating July 3 at UVU and will soon begin working on his instrument rating. He will graduate next fall. "Pursuing aviation has been exciting, to say the least," Lopez said. "It's technical, and it's a fun skill. I get to take to the skies. My classroom is above Utah's mountains, valleys, lakes and rivers, and I get to see it all from a bird's eye view." The Bernon and Irene Smith Endowed Aviation Scholarship is meant to inspire students to follow their passion for aviation and fulfill their dreams. It is available to those taking classes at UVU, enrolled in the Bachelor of Science in Aviation program. I can't do anything about it, but the legislators or voters can. ANNE MORREY Residency Coordinator UU ally has if he or she can't get financial help is the payment plan that the school offers with an out of state tuition rate. "I know it sucks, and I know that's not what students want to hear, " a financial advisor said. Each student has to put down at least ten percent before tuition is due; otherwise their classes will be dropped. Loans are not an option either because all the loan options that UVU offers are federal, and immigrants do not qualify. The only loans the student can consider are private loans, which are difficult to obtain. A student, however, can receive a waiver from the school. The waiver allows for the student to pay in-state tuition without having residency. The requirements are that students have attended at least three years of high school in Utah. The student also has to have a high school diploma and has to promise that he or she will resolve their status as soon as possible. UV*VIEWI PHOTOGRAPHERS NEEDED! wig/ contact Laura Fox at applecomb@gmail.com UTAH COLLEGE OF DENTAL HYGIENE Bachelor of Science in Dental Hygiene (BSDH) Accredited College ACCSC, 20 Month Program! Accepting 60 students each class. 99% Graduation Rate Financial Aid & Loans are available (for those who qualify) UVU Prerequisites Accepted* Mcro, Cem/ Anatomy, Physiology/ fl Statistics) PHOTO COURTESY OF BLOGS.UVU/NEWSROOM Robert Edward Lopez Ill, Aviation scholarship winner. UCDH is a division of Careers Unlimited 801-426-8234 WWW.UCCItleCIU ,Call for delailS • Online Store? • Blogging Site? • Community/ Group Info Site? SCHEDULE YOUR INTRO FLIGHT a TOUR 1-880-901-7192 I WWW.FlyUVU.COM 13 VU AVIATION SCIENCES UTAH VALLEY UNIVERSITY Dance store sells Freed pointe shoes, Sansha ballet shoes, Ray Rose ballroom shows, Supadance and International ballroom shoes, plus everything else a dancer needs. 10% student discount Dance Works 3228 N. University Ave., Provo, Ut 801-375-4622 HOUSING Old Mill Single Student Housing. Private Room & Bath Only $299/mon! Come live where all students agree to live LDS standards! 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