Abilene Christian College - Prickly Pear Yearbook (Abilene, TX)

 - Class of 1982

Page 211 of 424

 

Abilene Christian College - Prickly Pear Yearbook (Abilene, TX) online yearbook collection, 1982 Edition, Page 211
Page 211



Text from page 211:


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SSSSSSSS SSSSSSSSS 'SSSSSSSS SSSSSSSSS ffected higher education :r interest rates. Texas would loan s under the Loans to Assist Students ASD program, which had a 14 percent of interest as compared to the 9 per- interest rate on GSLs. Bank loans also available, though the current interest at commercial banks teetered near 20 :nt. esidential aides said that allowing ne to qualify for a GSL encouraged :nts to borrow whether they really ed the money or not. Without limiting funds to those with incomes under 100 they said that GSL costs would 1 from 51.6 billion in 1980 to 53.4 n in 1982-83. ie hotly-opposed Reagan proposal ably won't materialize until at least 983-84 school year: making graduate :nts ineligible for GSLs. ider current GSL regulations, iate students could borrow up to D0 per year. Graduate and profes- l students largely relied on these loans :lp finance their educations because were not eligible for BEOG, SEOG or Lfunds. ucators feared that exempting iate students from GSLS would seriously hamper the nation's 1.1 million graduate students from obtaining advanc- ed degrees. But even if the GSL program did get cut, graduate students would be able to borrow under the ALAS program. And in Texas, graduate students could ob- tain loan funds through the new Hinson Hazlewood program open only to graduate students. ln additional budget cuts, Congress began phasing out Social Security educa- tional benefits, averaging 5260 a month, to college students whose parents were dead, disabled or retired. Benefits would be reduced each year by 25 percent until 1985 when they would be eliminated. Social Security benefits formerly were paid to students every month. Under the new laws, benefits were paid only eight months out of the year with payment dur- ing the summer months eliminated. Congress also voted to end Social Security payments to high school seniors after they turned 18 unless they were enrolled as full-time college students by May 1, 1981. In order to keep educational benefits averaging 52,760 a year, many seniors were forced to skip part of their senior year to enroll in community colleges and universities. Locally, Hardin-Simmons University and McMurry College conducted special courses this spring to help Abilene area high school seniors qualify as full-time col- lege students by the May 1 deadline. McMurry offered a three-week com- munication course in April that gave students full-time enrollment status. The effects of Reaganomics on the coun- try's colleges and universities will become more apparent as time goes on. Some like- ly results included individual states in- stituting state-funded aid programs, col- leges increasing tuition fees, and students and parents having to dig deeper into sav- ings to pay for college. The government insisted that most of the cuts applied to unneeded student aid. But many educators disagreed, and they feared that additional cuts would come in future years. As the figure juggling began, the coun- tryis college and university students and financial aid officers, along with other Americans, simply had to cinch their belts a little tighter as a result of Reaganomics. - Brenda Zobrist Reaganomics

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