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Fewer student loans defaulted last year By BRIAN NEWTON Business . THE GAMECOCK? .. 7^ .if " V " v?? ivty.-M.,<%A>?*.a{Vifc* JsVj. ' r*". ':H ?. S ' * Staff writer The number of former USC students defaulting on their student loans decreased slightly last year, according to Bob Perrin, USC manager of student loan collections. "Our default rate has dropped substantially over the past few years," he said. "But we still have some work to do." Perrin said the decrease in the default rate is because of the education of students through pre-loan conferences and federally required exit interviews. John Bannister, USC financial aid director, is also pleased with the low default rate. "It's pretty remarkable that payback is that great," he said. "But most significant, universities do a good job at collecting loans." The two lnnn? that mr?c# e?.*' L *" ........Vat aiuuviui mciYc uuuugn nnanciai aid are the National Direct Student Loan, comprised of state and federal funds, and the Guaranteed Student Loan, which is offered by the South Carolina Student Loan Corporation and other loan offices around the nation. As of June 1985, USC's student loan default rate for the NDS loan was about 4.7 percent, compared to 5 percent the previous year. This means about 95 percent of former USC students with NDS loans are now paying off the university. Compared to other institutions in South Carolina, USC's default rate on the NDS loans ranks just above Clemson at 1.92 percent, and Furman at about 1.98 percent. The Office of Student Financial Aid and Scholarships holds a prcloan conference with USC students taking out loans. During this conference, students are informed about the type of loan they are receiving and their payment expectations. Students also are asked to avoid taking multiple loans, such as bank loans or loans from other sources. Also, the federal government requires any student who receives a loan to attend a exit intprvi#?u/ Hnrino --- _ UUi.ne inv aiuutm a ium semester or when a student doesn't enroll for another semester. During this interview, a payment schedule is set up, and the student is told the payment terms. Bannister said the state can withhold state incomc tax refunds from any person found to have an unpaid student loan. Also, any person with an unpaid loan can't get a state job and may be fired. Bannister said a person can be taken to court if the money can't be collected. Bill Mackey, executive director of the South Carolina Studet Lor 1 Corp., said repayment of student loans is very important. "A student loan is usually the first experience a student has with credit," he said. "A student should protect their credit record by it-paying meir loans. A record of repayment is reported to the credit bureaus." "We stress to students to pay back what they owe so that the money can be reloaned to other students," Bannister said. "We're here to help the students and to work with them if necessary." RESULTS! "T^oJTanui in The Gameco* JT SijWnriTTTI a w* " rW? Get to the answers WiththeH-55 What yuu need to tackle to perform complcx calcula- the ' the higher mathematics of a tions - like definite integrals, and science or engineering cur- linear regression and hyper- the | riculum are more functions - holies - at the touch of a G more functions than a simple button. And it can also he Let i slide-rule calculator has. programmed to do repetitive show Enter the TI-55-II, with problems without re-entering 112 powerful functions. 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