Special assignment: Higher Education and Financial Aid
University of Central Oklahoma
The Student Voice Since 1903
Education reforms enacted
Greed rampant after Andrew
By Tami Watson Staff Writer
HOMESTEAD, Fla. (AP) — Selfless giving and sharing are rampant in the wake of Hurricane Andrew. So are profiteering and greed. As people whose lives were upended by the storm lined up for food, water and other essentials, many told tales of $20 bags of ice, inflated lumber prices and the like. "It's terrible," said Marie Martinez, who paid $10 for five gallons of water. "We paid it. We're desperate." Gov. Lawton Chiles signed an order declaring Anyone charging "exorbitant or excessive prices" for postAndrew necessities faced fines of up to $10,000 per violation under Florida's law against unfair trade practices.
For most University of Central Oklahoma students, financial aid is just one huge headache. However, some of these problems may soon be alleviated following the reauthorization of the Higher Education Act, said Sheila Fugett, financial aid director at UCO. The reauthorization or "Higher Education Amendments of 1992" was signed by President George Bush this summer and will remain in effect for the next five years. The provisions of the act are largely geared toward the lowerincome students who need help most and middle-income families who usually find it difficult to receive aid. Offering larger Pell Grants for students at two-year colleges and bigger loans for students at four-year colleges, the provisions appeal to students. Some educators, however, are concerned that the law may intensify competition for financial aid because more students will be eligible for assistance and not enough funds will be available. Although the reauthorization includes many provisions, the two that will most directly affect UCO students involve changes in the Pell Grant and Stafford Loan.
Russia gets loan guarantee WASHINGTON (AP) — The Export-Import Bank has approved its first loan guarantees for Russian industry, and a top bank official said he hoped for a deal this fall to pump $2 billion into lagging oil and gas production there. "It's urgent," Vice Chairman Eugene K. Lawson said Thursday in announcing the $102 million loan guarantees. "Their production is dropping like a rock." See World Wrap, back page
TUESDAY September 1, 1992
Pell Grants
Waiting for Mom Eight-year-old Jenna Chamberlain, left, and her six-year-old sister Sherree Chamberlain wait for their mother to get out of class outside the Art Buildiing. (Photo by Mike Simons)
The Pell Grant eligibility formula has been merged with a formula usually used for student loans and other programs, changing many factors used to See Education, page 10