the review washburn university
The Sideliner is here for it’s first installment of the semester to bring a preview of the volleyball season. Sideliner 2 Serving Washburn University since 1897
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volume 135, Issue 2 • MONDAY, Aug. 25, 2008
Farley announces 4,000 credit hour drop Estimates point toward $1.5 million drop in available funds for WU
a total of 7 percent over the next two years, Farley asked all in attendance to pull together to help cut costs to make up for the dip in available funds. “It’s going to be painful,” said Farley in reference to budget adjustments. “There will be pain Travis Perry involved.” WASHBURN REVIEW The one bright spot in the latter part of Friday’s convocation was tuition Jerry Farley, Washburn University would not be raised to compensate for president, spoke at the all-university the budget cuts the university is about convocation Friday afternoon, to undergo. “We may be at our ultimate pricewelcoming faculty and staff back to a campus full of changes, in more than point for tuition and fees,” said Farley, continuing one way. by saying he A m o n g “ believed students the news, the Higher Learning We continue to have could not afford to pay more than Commission a retention issue. they currently recommended are to attend Washburn for We know this is Washburn. another ten years difficult economic Farley was of accreditation adamant to and the move to times right now. stress the point bring Kaw Area that students Technical School didn’t create this under Washburn’s - Jerry Farley problem, so he Board of Washburn University President asked faculty Regents. Farley and staff do also addressed ” as much to tomake more somber the process as information in regard to the state of the university. painless as possible for students. Following Farley’s speech, While incoming-freshman enrollment Mazachek, Washburn is up for this year, Washburn is down JuliAnn an estimated 4,000 credit hours this Endowment Association president, semester, and Farley announced the spoke to the crowd to kick off the annual faculty/staff prediction for the same kind of drop university’s spring semester as well. The estimate fundraising campaign. Last year is just that, though, and Farley said the the university reached a 35 percent exact number for this semester will not participation rate among faculty and staff, and Mazachek said they would be know for several weeks “We continue to have a retention like to reach 45 percent this year. “These donations are an important issue,” said Farley. “We know this is difficult economic times right now. We part of funding the university,” said Mazachek. have to adjust.” At the current rate of $197 per credit hour for in-state tuition, the estimated 8,000-hour drop is about $1.5 million from Washburn’s budget. Travis Perry is a senior mass media maCombined with the news that state jor. Reach him at travis.perry@washburn. assistance for universities will drop edu.
Liz Bernhart WASHBURN REVIEW
Photo by Andrew Roland, Washburn Review
Budget Squeeze: Jerry Farley, Washburn University president, spoke to faculty and staff at the all-campus convocation last Friday. Among the topics addressed was the fact that Washburn will be down an estimated $1.5 million in tuition dollars because of a drop in credit hours.
James Ahrens WASHBURN REVIEW With a switch in the financial aid setup, future students should experience fewer problems in receiving financial assistance. Like many other students, Amanda Bayless received e-mail on the situation at the end of last May. While she was able to resign her master promissory note and subsequently receive her financial aid for this semester, the experience was somewhat less than pleasant. “It was kind of irritating,” said Bayless. “I don’t have money to pay for school any other way.” According to the May 29 e-mail, all students who receive Direct
“Three Cups of Tea” is the novel chosen for this year’s iRead Program.
All good college stories should involve a trip to a Scottish Whisky Brewery.
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Stafford and PLUS loans, which is a large portion of the student population at Washburn, would be required to re-sign their master promissory notes in order to receive financial aid again this semester. This was because of the switch from the Federal Family Education Loan program to the Direct Loan program. The switch was prompted by uncertainties in the stability of the FFEL program. According to the Washburn Financial Aid Web site, the new program is more stable because funds for the Direct Stafford and PLUS loan program come directly from the Federal Treasury, rather than private lenders. According to Annita Huff, director of financial aid, the system switch over was not easy. “The decision was based on the unstable outlook for private lenders and their untimely withdrawal from the Please see LOANS page A5
As Fagin once sang in the musical telling of Charles Dickens’ immortal classic Oliver Twist, “in this life one thing counts, in the bank large amounts.” While money cannot buy happiness, savvy money management can help alleviate stress and lead to a more financially secure future. With money and the problems arising from overspending as the number one causes of dropout rates in college and divorce, the Campus Activity Board enlisted the help of financial advisor Peter Bielagus, who spoke to Washburn students last Thursday evening in the Washburn room of the Memorial Union. Bielagus was once in a terrible predicament. He was a freshman in college and five thousand dollars in debt with credit card companies. He said it was the free offers that came with credit cards that drew him in. “I once signed up for a credit card to get a free plastic whistle,” Bielagus told the chuckling audience. “I still have no idea why I did it.” But Bielagus didn’t stay buried under a mound of debt. He studied finance and slowly but surely made the assent back into good credit. Now, he goes to colleges all over the country teaching students how to get out of trouble or, hopefully, how to avoid it in the first place. The first thing a student must know is that they have a credit score. Even if they have never borrowed a thing in their lives, they have a credit score. The important thing is to keep the score up.
Credit Score A credit score isn’t just another number. It determines many factors including how expensive someone’s life will be and even getting a job after graduation. Many employers check credit scores to get a feel for how potential employees manage money. The perfect credit score is an 850, but 720 is the number to shoot for. The fiscally-savvy can find out their credit score by going to www. annualcreditreport.com. It’s free to check, but copies cost $8 each. Bielagus suggests going there at least once a year. Many Americans have a poor credit score because there are mistakes on their report. These mistakes can be fixed but first they have to be found.
Please see FINANCE page A3
Contact Peter Bielagus peter@peterbspeaks.com
The Ichabod football team is mum on it’s decision with the quarterback position.
Sideliner
New funding methods will draw directly from Federal Treasury
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news & opinion
Financial Aid switches Federal funding program
Graphic by K.J. Thies, Washburn Review
Speaker tells students pitch the plastic
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Union Daze - Aug 25-29
Tuesday - Pepsi Tasting - Find out what your flavor is! Thursday - Scorch on the Porch - Food, Friends, and a Sale in the Sun! 11:30-1:30 Friday - College Color Day - Buy your own CCD tee for only $12.99 and make sure to watch out for the prize patrol.... Located in the Lower Level of the Memorial Union * 670-BOOK (2665) * www.washburnbookstore.com