Lower interest rates reward prompt loan repayment
WASHINGTON (AIM The nation's largest provider
of college student loans, the Student Loan Marketing
Association, unveiled a program Monday that will re
duce interest payments (or certain borrowers who pay
their monthly installments on time
The program, called Great Rewards, is a whole new
concept In education lending It rewards gotxl repay
ment habits," said Lydia Marshall, senior vice presi
dent of the association known us Sitllie Mae
‘'Good borrower* save us time, and they save us
money." Marshall said "The savings will be passed
hack to the good borrowers "
Sal lie Mae is a publicly held, federally chartered fi
nancial services corporation that buys education loans
from banks anti other lending institutions It owns more
than $20 uillton in federally insured student loans.
which amounts to one out of every three such outstand
ing loans today
Under the program. 2 percentage points would he
shaved from the interest rate on a borrower s loan if
payments are made on time during the first months.
Marshall said The program is limited to Stafford loans,
the most common type of student loan under the Fedcr
al r«mily Education Loan Program
A typical borrower with S5.000 in Stafford loans
would save $24(> over the life of the loan, which is usu
ally 10 years A borrower with S2 t,(MK) in loans
which fasomes the undergraduate fmrrowmg limit for
Stafford loans In July — would save more than SI.100
In Interest payments
The first group of students benefiting from the new
program would typically have loans with an Interest
rate of 8 perront in the first four years anti it) percent
thereafter. Marshall said Under the program, prompt
payments during the first four years wouid cut the in
terest rale for the following years by 2 percentage
points, to 8 percent, she said
Once an eligible borrower has paid on time for four
years, the reduced interest rate will remain through the
life of the loan, regardless of whether the borrower be
comes delinquent "But we expect a low rate of subse
quent delinquency" in that group, said Sallie Mae
spokesman Koss Kleinman
The program will he available to students who get
Stafford loans after Jan 1. 1983. that are subsequently
sold to Sallie Mae and serviced at one of its loan servic
ing centers before loan recipients begin repaying.
Oregon Daily Emerald
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103 GREEK HAPPENINGS
FIJI
INFORMAL RUSH
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ATTENTION All GREEKS'
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.-nvotomP lha-y <v« cft*» by 4 pm w
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APPROVED *> *«**> ! ha*a ttftft t**>
ground farm pap«r« T u« 'mum* %w
vio» I jirtw* pt ON CAMPUS*
TYPING UNLIMITED
B«txia land 4IS4J4J
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Printed text to computer' es
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344-4510
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THf. WORD SPECIALISTS
Worn f^rocm'^Q ft t>«a*?op f^j6*t*h»ng
G*i»j School Appro*-**! l 8‘4K JKtfYW
«)«KriQ y»ph»C*, dAMKTtftyft. !Nc#'U**.
CIHOV _4M-34S4
120 TUTORING
Greek Math Tutor
Tim* A Thun. / 30 fl*vn
137 Grftoari
125 INSTRUCTION
Pro/Edit
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and coow8«<^ or" your M*rm pa
par* puwer 1% Mtf. W rTw*#f * r<>'
fit YCXJH conwvmut A# wOjwts
343-2747
Yin.t S' Papar *»?
Cr«Kter*«Aiad MAtto* halp *rtr> »«*
MNkfth rt'xJ poit%h knot tj**h 34 0S.’t
iM FOR SALE WSC.
Aquarium, ha«*Qon TruVu?B (jM*
Bum tw*. * Magnum 3k0 pump SaA
w*fY*cx raid twin b%h |.-.v«Mtad 14 SO
V-m» k* A??^> I r* o' the Storm feght
rvng *nf Bought tor ft,*00 S** *o< ASO
Andy 603«73S_
GUITARS GAl OWi ' M .«
at! Ano citmw.11. and s'a'mf
Buy Arxl Sat; Contra h.t w mf>
Ouean futon rt”*l Ndii# f khuwh
cond«f<on t ort/n cty» A?O0 oOo
607 0037. Cathy
TATOO GIFT CERTIFICATES
NOW Til JAN !*t
Hutly SavaQOt SK**0 T«!oo oltars
$*00 Q;*l V* ot\*y $t>0 Grati
k* ot ?u»i %<*>«* *0% <yi UtiOOt.
pwtmg t#nd irvig&jtf*®*
Studio Tatoo
10lt W tin Iu8»n«. OH
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»untj) cart* *vxl qH* or* «u lX>
{ioo^nva fMX* irvmi^h 0®c i? *0 ■*
jSoJ 10 ?)
No appointment need
•d The buyer (• always
in
Tha Clothe* itaiM,
120 t Olh
us CARS TRUCKS
GOVt RNMI.NT Stiff D vmhxto* from
$100 ItwtJSk Mon «de». C&VaQCft
CNwyt. *urp*u*. buy*** Qu«ck»
1 9ft? <0°° * «» SSft4?
1966 Bug C»oad frhope l (mat %o%
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eiT\Au%i Av* '>g (or $ ’ SCO OOO C a#
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$4800 69/ 0547
145 CARS TRUCKS
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cor** %? 000 ^ AMIMmWiA txw k
-,**« OA< IfeVX <B3 6941
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Mon 343 /’ M
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ns COMPUTERS ELECTRONICS
Compaq Portftbte M St*’ *QfN> NwJ
<l%* ? V. 0400 OOo ?No< a
laptop! Me. note ~Ufc 610S-AdS t?6/
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STlll AVAR ABIE"
John Madden Football 92
f o( StGA ClNtSIS »25 call Scott
•I 0*6 0103
TUS Scientific citk »«cx I » u«*t*
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?86 IBM compil»W« 1 ? HAM
HMm 6?V *oppy 3 S floppy 4C«tg
MO oo*y VGA mar-.'tc* now 0060
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170 SOUND SYSTEMS
CASH**' tH/y mw* and fcO'Ytf® VMS
VCH * and *i«**o* Tnomp*on
f ‘*0tfOftig»11 p?0** M3tt?.Ta _
JVC TD WAOS Dubbing Dock. on#y 3
montn* o*i ,/s4*1 ? mo* f>w* now on
•mini « UO BooksW# fc?9S on#y i?lS
060’ MS 9IM?
Snowboard* Burton MR 160c^ * *m
6*nd>ngs A*ymm««nafti Goo#y $??S
060 48S UiHC
?oo RIDES & RIOERS
MooponaAM* d#»v«r wantod to arwiftt
•d*» to San f ranoaco mrd Oat Wiwd
dnvor to nrtuYn car 10 Portland m
January Om» way c* 6#s 4$o?
205 OPPORTUNITIES
University Day 1993
Co-chair Applications
Pick up in Oregon Hall
Room 364
Due back by:
Friday, December 18
7M OPPO RT UN IT ies
Would you lit* 10 Ntfp a 1950
Car*?u*y 0*a*< wooden boa?1 SN>p *
*n Cotx#Q r*o pay CM a ‘atHvOua
«f;a»r<*vv *» C ft.1 Jtrf' a; 342 3**65’
POSITION AVAILABLE
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Thara ara (4) ttudant potitiont
currantly availabla- (2) or fhata
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aacond or third yaar law tchool
ttudant Application* for
appomtmant can ba obtained
from tha ASUO, Suita 4 of tha
EMU. from 8 am to 5 pm
Application! aubmittad no latar
than Friday. Dacambar 4. 5 pm
An affirmativa action aqual
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" YOtTl IkVD I T I. AS T YF AM
AND
TMtS YEAR YOU ARf ON TMf
Vi NGl Or DOING If AGAIN
Univaraity Thaatra 02-93
Maadt YCXJ to ihr*#
Son MUSIC COM! DY WUMA lor
\ Ml i YOU Utnar a Horxnvon
or A'ana TN»W'« Product or
iha Un*vorvty Thaw!'® Bo» O’fca
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IMon Ff. t 3I*M *Q* the
Stuck**'M Bo* Otfte* My< Aubno
Abbott o> lha Assni Mgi. tVr w*y
lainama io tvmx>r**» part of tna
\.kr-vw\ty Trvaana l-Khar SiaH
| T«-»«V ti «U
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210 HELP WANTED
ALASKA SUMMER f.MPlOVMEWT -
HNV4A Earn $600. •*<** «n
carmano* ot $4000. '"MXMh on H*»ng
Ooais f 'aa Tran*port«l»on' Room and
Doaru CM* 0.000 opanxng* Ro eip
nacaaaary Mala Of Famaia Gar a
haad Waft on IM lumW For
©mprtOym«x>i program Cti
t 206 S4b 4100 ©«f A6C69
Earn caah Huffing anva*opaft <»: f'oma
Afi matanafe p'khOw) Sand SASf to
PO Boi t*643 SpongUMfl. MO 6S801
looking for work* f RAT COOK W«5f»
variety o? tootto. good *r«tn Oodgat and
g.jys Good re* PHykv T2fc ftSO ^
?10 HELP WANTfcU
Plan ahead Graonnouaa eorh Full
•irn<* ragweed Mrcf through July
T f»n»og ? 3 day* per wee* January
and February Aa-ve worfc so must be
pby*>caJ»y <i Respond «mh resume to
PO Bo* £32. Conaga Grove 97424
Wa »ri> mar s«*nd you an nppnc»ton
RMponat>t« “kve-Fn" house artier
(»nd par taro) needed lor home m SW
( ugene Doc ?5pm Jan S Need local
var'aN# raWa/o^Ki*. 343-4878_
Earn $80 Ca>*y assembling beautiful
sluhed an.ma s at hon>« No
at per >ence required No sowing Sond
SASl Amercrafts Bor 4406S f
Ko Rancho. NM B71 74
Wart people earned F ood and COCAUi
poMom man and women Must be
21 F4ours are daymrgh? pad tima
I-ease app'y «n person wtth resume
Guoo s 80t l 13th No cnUs
210 HELP WANTED
RETAIL CUSTOMER SERVICE
Starting pay $10 25
Part time $205 warily. $$20 monthly
Futt-tim# $410 weakly. $t$40 monthly
Int i retail Cham, many lamp & perm
pov no aap nec Will tram, ftei hours
Work m local aroa. apply Salem head
quaners College students *chk pan
I.me school yea' and tuH time during
vacation some scholarships and in
ternahips ava<i Call 363 0776
Security parson wanted tor alternative
htafctye nightclub Person should t»i
open minded and level ht**ded Appry
m person 959 Pearl St. Ctud Arena
Pos»t<on is part time n^jnts No calls
215 WORK STUDY
GREAT JOB Recycling Assistant
waited tor Wnter and Spring term,
contact Campus Recycling at
346 1529
210 HELP WANTED
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