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September 2010


Kilian Community College

Issue 21

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DEFAULTING ON YOUR FEDERAL STUDENT LOANS – Did You Know? You must repay your federal student loan. If you do not make your monthly payments and you do not make any arrangements with your loan holder – your loan may go into default. If the account becomes delinquent by a specific number of days (depending on the type of loan), it is in default. Once the loan is in default, the entire balance (principal, interest, and collection fees) is immediately due and payable. Consequences of Default  You can be sued for the entire amount of your loan.  Your credit rating can be severely damaged, making it difficult to borrow money for a car or home, or to receive credit cards. The default status can remain on your credit report for several years after you pay the loan in full.  Your federal Treasury payments (including federal tax refunds) and state income tax refunds may be withheld.  Your disposable income can be garnished (administrative wage garnishment) without a court order.  You won't be eligible to receive any more federal financial aid (and possibly state aid) unless you make acceptable arrangements to repay what you already owe.  You may be ineligible for assistance under most federal benefit programs.  You'll be ineligible for deferments or forbearance.  You'll be liable for the costs associated with collecting your loan (could be as much as 25 percent of your principal and interest balance), plus court costs and attorney fees.  You may not be able to renew a professional license you hold or may jeopardize your chances for certain types of employment.  Your loan may be assigned to a professional collection agency. Default Can Be Avoided: Before you take out a loan, make sure you fully understand your options and responsibilities. You should explore and use scholarships, grants, work-study, part-time jobs, and family contributions first to finance your education.  Don't borrow more than you need or more than you expect to be able to repay. Develop a sound—and realistic—financial plan.  Make your loan payments on time, and notify your lender or servicer when you move or change your address. Contact your loan holder immediately if you start to have problems repaying. They may be able to provide you with some financing options and give you information about deferments and forbearance. Keep a record regarding your loan. Make copies of all letters, canceled checks, and any forms you sign.

Kilian Community College

Issue 21

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Financial Aid Truth or Rumor … In the Financial Aid Office we hear many rumors and between-class conversations. This month, we would like to address a few rumors we have been hearing. “My classmate gets way more financial aid than I do.” Maybe, but maybe not. But first, remember that we cannot discuss one student’s financial aid with another student … no matter what. When you hear a classmate say they are getting “a ton” of aid, consider the many variables such as income, # of dependents, # of credit hours taken, dependent or independent student, freshman or sophomore status, etc. Remember, your situation and that of the person next to you are not identical. “I only receive student loans. Why don’t I receive federal financial aid?” Federal student loans are federal financial aid. Think about it this way … you are receiving a government loan with or without credit history, possibly with poor credit, without collateral – basically no questions asked - and with 10 years to pay it off once you’re done with school. How many lenders are going to extend you that kind of credit? It’s great – ideal even – to receive grants for school, but depending on a person’s financial situation, it may not happen. Also, if you’re receiving a subsidized loan, the money you borrow is interest-free while you are in school – you can’t beat that. Be thankful that student loans exist and use the money responsibly and for what it was intended – educational expenses. “I heard I can get a private loan to pay for college.” Yes and no. Some financial institutions offer private loans to pay for college. All will require a credit check and most will require a co-signer. In addition, the interest rates are often up to double that of a federal student loan. Be sure you have exhausted all scholarship options before you apply for a private loan! “There is no limit to the amount I can borrow.” Not true! The federal government caps the total amount you can borrow. For example, an independent student can only borrow a total of $57,500.00 to pay for a bachelor’s degree. Are you borrowing the maximum amount each and every semester? If so, are you sure you’ll have enough money to finish your 4 year degree? Borrow wisely! “Student loan payments are low.” That depends. Speaking of the $57,500.00, at current interest rates you are looking at a monthly payment of around $600-$650! Remember – you still haven’t paid rent or mortgage, car payment, groceries or utilities. You will hear us say it again and again and again … the less you borrow the better off you’ll be when you graduate. Making payments as promised when you completed your MPN will help build your credit – failing to make those payments can destroy it. Only borrow enough to pay for your education – that will help reduce your stress and living expenses once you enter the working world!

In the end, we hope that you always know where to come when you have questions about your financial aid. The Financial Aid Office at Kilian is here to answer your questions, clear up the confusion and put to rest myths and rumors about the process. We are here to help!

Kilian Community College FOOD ORDERS TO KILIAN CAMPUS If a pizza or sub craving hits during your long hours of studying here at Kilian, having food delivered is no problem. However, please make sure that you are waiting to pick up & pay for your delivery. The front desk staff cannot leave the desk unattended to come and find you when your food arrives, and we don’t want to turn away the delivery driver! COPIES, FAXES & LAMINATING Do you know that the front desk staff can make copies, send faxes and laminate pages for you? -Copies = 10 cents per page (copies made front & back to save paper unless you specify otherwise) -Faxes = $1.00 for the 1st page & 10 cents for each additional page (please have your cover sheet ready) -Laminating = $1.00 per page

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Attention Students: The following are the requirements for a student to pick up his/her overage check: 1. A photo ID is required 2. Only the Payee/Student is allowed to pick up the check and your signature is required 3. NO PHONE CALLS—requests for checks NOT to be mailed MUST be in writing 4. Checks are not available before 8:30 AM on the date of disbursement 5. All checks not picked up on the specified date will be mailed out the next morning. NO EXCEPTIONS!!

Important Dates: September 6 September 7 September 13 September 30 October 4-9 October 8 October 29 November 20

College CLOSED Labor Day First Day of Fall Classes Last day to add/drop a class Returning borrower Overage Check Disbursement Midterm Week New borrower Overage Check Disbursement Last day for student withdrawals Fall Semester Ends

Attention Faculty, Staff and Students: Kilian is getting new student ID’s! Please stop by the front desk at some point during the first two weeks of school to get your picture taken for your ID. Student’s will be able to use their ID to gain access to the Success Center as well as for student discounts throughout the city. More information will be available to students soon.

Kilian Community College Seeking Employment? Seasonal Farm Workers $500 Stipend for School Contact: Shelly Disbrow National Farmworker Jobs Program SD Dept. of Labor 367-5300 Brochures in the FA Office!

CONGRATULATIONS!! HONORS STUDENTS SUMMER 2010 President’s List (at least 9 credit hours and a sgpa of 3.75 or higher)

Eric Abels Candace Dvorak Ambre Mueller Elizabeth Parks Shannon Whalen-Moulten Achievement List (at least 9 credit hours and a sgpa of 3.5-3.74)

Delores Bents Ashlee Boyer Heather Williams Tracy Yorek

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DEALING WITH DISAPPOINTMENT Today's Lesson: Dealing with Disappointment Before my husband, Dave, had a health set back in June, we had many plans for a wonderful June. We were going on a fabulous cruise for a week for our 2010 vacation. Dave had booked the cruise 4 months ago and was eagerly counting down every day until our well-earned vacation. I had planned to finish a writing project, focusing on some VIP client work, swimming my grandchildren, and finally working less hours after a busy 5 months of the year. None of our plans came to fruition. In fact, we were thrown in an entirely different path of life. We had to deal with a lot of big disappointments. Well mapped-out events had to be quickly cancelled or rerouted in a matter of hours. We were not only facing tough medical decisions for Dave, but were bogged down by disappointment. I was heartbroken that I could not take a vacation that was very well deserved. So how do we deal with big disappointments? 1. Take them one at a time and take one day at a time. 2. Believe that better days will come and you go on that trip you had to cancel. 3. List the many blessings you already have received in life. 4. Think about others who have it harder than you. 5. Reach out to others who are facing disappointment in their life and be empathetic. It makes you feel better. 6. Accept setbacks as new lessons learned. 7. Be thankful for the new skills you are developing as you work through the disappointment. 8. Make new plans so you have something to look forward to. Don't look back. Reward yourself in a small way during this time. Do 1 thing that makes you feel good or will keep you going. As long as we are "all out there" moving along in life, at some point, I believe we will all face a big disappointment. It's how we handle those disappointments that will build our character and make us stronger for our future.

Kilian Community College

Issue 21

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WACKY FACTS Coca-Cola would be green if coloring wasn’t added to it. Every U.S. President has worn glasses (or contacts). There is no full word for “Mrs.” Apples are better at waking you up in the morning than caffeine. Albert Einstein never wore any socks.

Kilian Smoking Area Policy Change Effective September 1st An additional area has been designated for smokers on the Kilian campus starting the Fall semester. It will be located on the north side of the building near the handicapped parking and delivery area. Smoking is still allowed in the student vehicles, but not in front of the building. A green picnic table has been placed in the area for the students convenience. Please assist our staff in keeping our campus community clean by maintaining the smoking area in a responsible manner. If you have any questions in regards to the new smoking area please feel free to contact Gene McDaniel, Dean of Student Services in Room

The city of Jacksonville in Florida is the largest city in the US. (Size not population). There are more fluent English speakers in China than there are in the United States. On the penny, Abe Lincoln faces to the right while all other presidents on other coins face to the left Mosquitoes have teeth. A cockroach can survive days with out it's head. You are more likely to be killed by a donkey than in a plane. Rutherford Hayes, the 19th president of the US, was elected president by one vote! The higher the income, the more likely a man from the US will cheat on his wife. Carpenter ants have been used to close wounds in Asia and South America. Organized crime in the US is estimated to be about 10% of the nation's income. Dolphins sleep with one eye open.

WELCOME TO YOUR FUTURE!! Fall Semester 2010


September Kilian News  

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