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The Rambler STATE UNIVERSITY OF NEW YORK
AGRICULTURAL AND TECHNICAL COLLEGE
FARMINGDALE, N.Y. 11735
at Farmingdale^t Dar Student New$paper
PamUd by mMidatoiy stumnt acthrhv fee*
VOLUME 56, NUMBER 6
March 5,1986
IHHB WHVggnTH _
OOIIEK (K IbUUUUMt
FMHMOMU^ IK«il173f STATE FINANCIAL AID CHIEF WARNSfT'®™"^
PRESIDENTS BUDGET WILL DESTROY THE
GSL PROGRAM
The Guaranteed Student l.oan Program in New York State would be
'virtually destroyed' by administrative changes proposed by President Reagan
in his budget for 1987, warns Dr. Dolores E. Cross, President of the New York
State Higher Education Services Corporation (HESC). According to a preliminary
analysis of the budget conducted by the Corporation, the $1 billion program
would be reduced by 75 ^ or $750million in New York State. "The President's
proposed changes to the GSSL program—reduce special allowance payments to
lenders, decrease reinsurance on defaulted loans, increase interest rates and
require students to pay interest charges while in school—would make the
program unattractive to both lenders and studenl8,"said Dr. Cross. "Lenders
would face substantial income losses and new risks regarding dafaults and
interest rates, while students would have to bear larger out-of-pocitei costs. The
result would be that few lenders, and therefore few students, would be able to
participate in the program.
Cross also said that major structural changes and funding reductions for tyie
other Title IV programs would lead to a26 decrease in overall aid to New York
State students. Among the most drastic proposed changes:
• an 8.8 ^ <lecrease this year and a 20 ^ decrease in FY'87 in the $486
million Pell Grant program
merger of the College Work Study and Supplemental Education
Opportunity Grant programs, along with a 60 ^ decrease in funding
for the programs
• termination of the State Stud» nt 1 ncentive Grants program, now fundetl
annually at .S6.4 million in New York
• a S>16 million cut in the .S18 million National Direct Stutlent Loan
program for this year, along with ste^-p increases in interest rates
beginning in FY'87
• requiring all applicants to the Guaranteed Student Loan program to
untlergo a need analysis
0 requiring all stuilents to contribute a minimum of S800 for grant eligi-bility,
in ad<lition to the currently n qiretl t'xpecte<l family a>ntributit)n
continued on page 3
PLANNING A TRIP TO THE CAMPUS?
Why not plan your visit to coincide with the
College's annual Open House Program...
April 18th & 19th
Open House '86 promises to be one of the college's
major events of the year. This will be a perfect
time to sit in on actual laboratory and clinical
phases of course work, tour the College's expanding
facilities, view academic exhibits & talk with
faculty and admissions representatives.
I
9:00am. to 3:00pm.
To celebrate the" Week of the Young Child " and
to coincide with Open House, Farmingdale's Child
Care Center will be sponsoring a Children's Fair
6n Saturday April 19th.
Specific questions re Open House can be answered by telephoning (516)420-2668. Kor further information
on the "Week of the Young Child," please call 420-2125.
We look forward to seeing you, your family, your friends and your
neighbors at this exciting community event
Object Description
| Rating | |
| Title | The_Rambler_1986-03-05 |
| Subject | Newspaper |
| Description | The Rambler |
| Creator | SUNY Farmingdale State College |
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