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The Chronickrl
Interest on Stafford Bush gives state of U.S. Loans may see cut BY
IZA WOJCIECHOWSKA THE CHRONICLE
The U.S. House of Representatives voted 356-71 last week to cut interest rates by half on Stafford Loans for college students. If passed by the Senate, the College Student ReliefAct would reduce the rates on the federally subsidized loans from 6.8 to 3.4 percent over a period of five years before reverting to the original rate in 2012. “Students will accrue less interest and will, therefore, have less to repay over time,” Jim Belvin, Duke director offinancial aid, wrote in an e-mail. “A substantial number of need-based aid recipients use Stafford.”
The interest rate on Stafford Loans is currently 6.8%.
If the College Student Relief Act passes, the rate will be cut every July 1 for 5 years:
2007:6.12% 2008:5.44% 2009:4.76% 2010:4.08% 2011:34% On January 1,2012, the interest rate would return to 6.8%.
About 43 percent ofDuke un-
dergraduates qualify for financial aid, and approximately 85 percent of those take out loans, Belvin said. “We package Stafford in virtually all student aid packages,” he added. If passed, the bill will become effective July 1, 2007. The bill is designed to make college more affordable for undergraduates, according to the Stafford Loan web site. “This proposal is targeted on assisting the low- and middle-income students and their families with the most financial need—those who receive subsidized student loans,” the website states. The issue sparked a recent debate in Washington, however, over the nation’s priorities regarding education. Though 124 Republicans supported the measure, the White House voiced opposition, claiming that although the legislation would help students after they graduate, it would not meet the needs oflow-income students en*
tering college. “Institutions would benefit from having more low-income students enroll. Loan-interest reductions, however, affect all students who borrow regardless of their income,” Belvin said. “We SEE LOANS ON PAGE 5
Baldwins start Black Women’s Initiative BY ZAK KaZZAZ THE CHRONICLE
Through late-night conversation in Crowell Quadrangle and meetings with faculty, three Baldwin Scholars began in October
what has now become known as the Black Women’s Initiative. Modeled after the Women’s Initiative and the Campus Life and Learning Project, the Black Women’s Initiative plans to research issues confronting black women at Duke, said co-founder Laura Welch, a junior. Welch founded the initiative with fellow juniors Kelley Akhiemokhali and Kamaria
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President by
defends Iraq plan
WASHINGTON A politically weakened President George W. Bush implored a skeptical Congress Tuesday night to embrace his unpopular plan to send more U.S. troops to Iraq, saying it represents the best hope in a war America must not lose. “Give it a chance to work,” he said. Facing a political showdown with Democrats and Republicans alike, Bush was unyielding on Iraq in hisannual State of the Union address. He also sought to revive his troubled presidency with proposals to expand
SEE BUSH ON PAGE 6
,
BY SIIREYA RAO THE CHRONICLE
SEE N.C. OEMS ON PAGE 7
“Black women are a really unique subpopulation of Duke
health insurance coverage and to slash gasoline consumption by 20 percent in a decade. Democrats—and even some Republicans—scoffed at his Iraq policy. Unmoved by Bush’s appeal, Democrats said .the House and Senate would vote
on resolutions of disapproval of the troop buildup. “We need a new direction,” said freshman Sen. Jim Webb, picked by the Democrats to deliver their TV response. “The majority of the nation no longer supports the way this war is being fought; nor does the majority of our military,” said Webb, a Vietnam veteran opposed to Bush’s invasion of Iraq. Republican Sen. Norm Coleman of Minnesota also took issue with Bush. “I can’t tell you what the path to success is, but it’s not what the president has
N.C. Dems GOP respond to speech
SEE INITIATIVE ON PAGE 5
demographic.
skeptical Congress, nation
Terence Hunt
students,” she said. ‘We define the Black Women’s Initiative as a multifaceted approach to understand
“What we want to do is interrogate what the status of black women is on campus right now,” Akhiemokhali said. Although the situation of black women has been included in previous studies at Duke, Welch said she hopes to find information more specific to their
to
THE ASSOCIATED PRESS
Though President George W. Bush’s State of the Union Address was met with general apathy on campus Tuesday night, members of the North Carolina Democratic Party decried the President’s request to send more troops to Iraq. “He is going to show you tonight one more time that he is completely out of touch,” Jerry Meeks, chairman of the North Carolina Democratic Party, told Democratic supporters—in addition to a handful of Duke students—gathered at nearby Satisfaction Restaurant and Bar. “It is certainly not the
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President GeorgeW. Bush deliversthe State ofthe Union Tuesday in front ofVicePresident Dick Cheneyand House Speaker Nancy Pelosi.
Satisfaction hosted the N.C.Democrats' viewing party for the State of theUnion Tuesday.