[Vision2020] University to charge 2.5 percent fee to credit cardscharges

[Donovan Arnold]

Mr. Force,

Most freshman and sophomore students do not qualify
for enough subsidized loans to meet all their room,
board, tuition, medical and book expenses.

The government deducts the "expected family
contribution" from the maximum amount you can qualify
for in loans. If the government expects your family to
contribute $6000 a year to your education but Mom and
Pop can only fork out $3000 the student has no other
choice but to put it on the credit card and try to pay
it off with a part-time job. I only qualified for
$3000 in aid my sophomore year and nothing my freshman
year. 

In addition there are increasing expenses the
University has added onto that the federal government
does not count as an expense when calculating your
maximum financial award package. For example, all
students are required to have $500,000 in catastrophic
coverage. This costs students about $1000 out of
pocket expenses if they are not covered their parents.
Business and architecture majors also have to also pay
thousands in computer software and hardware that are
also not counted as expected costs. 

So in a dream world, yes students should and most do
take all they can get in loans and scholarships but
more often than not this is not enough for freshman
and sophomore students.

Donovan J Arnold 

 



--- Ron Force <rforce at moscow.com> wrote:

> It would be very foolish for students to charge
> their education expenses on
> a credit card when there are subsidized student
> loans at a fraction of the
> interest rate.
> 
> BTW, I just bought some auto parts from a local
> merchant, and was charged a
> fee to use my credit card.
> 
> **********************************************
> Ron Force          Moscow ID USA
> rforce at moscow.com
> **********************************************
> 
> -----Original Message-----
> From: vision2020-bounces at moscow.com
> [mailto:vision2020-bounces at moscow.com]On Behalf Of
> Donovan Arnold
> Sent: Wednesday, June 08, 2005 2:57 PM
> To: J Ford; vision2020 at moscow.com
> Subject: RE: [Vision2020] University to charge 2.5
> percent fee to credit
> cardscharges
> 
> 
> J,
> 
> UI has lost undergraduate enrollment. The UI lost
> 200
> undergraduate students. Increases in graduate
> student
> enrollment have made up some of those lost
> undergraduates. However, most graduate students live
> off campus so they do not charge boarding and
> housing
> costs on their credit cards at UI. The 2004, 2005,
> and
> 2006 enrollments are down for undergraduates. Who
> cares if they were up 8 years ago or 80 years ago.
> What matters is now and the future.
> 
> 
> Second, I also never said that UI got the 10%
> charge.
> My complaint is that students still have to pay the
> cost, increases in the cost, interest on the cost,
> the
> additional 2.5%, and the additional interest on the
> 2.5%. That makes college less affordable which means
> less people can go to college.
> 
> Third, how are 18-year-old students that do not have
> $50,000 in their piggy banks so suppose to afford
> funding a four year degree?
> 
> The budget cuts have nothing to do with the lack of
> students. Most colleges are facing cuts.
> 
> Finally, the University does have a responsibility
> to
> keep college costs affordable. Everyone in the state
> pays for the University so it should be open to
> everyone capable of taking the courses not just the
> rich.
> 
> Keeping up with my grammatically incorrect 15 posts
> a
> day,
> 
> Donovan J Arnold
> 
> 
> 
> 
>
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