Lawrence Journal-World 12-25-12

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L A W R E NC E

JOURNAL-WORLD ®

75 CENTS

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LJWorld.com

Merry Christmas Loan costs overstated by millions

KU AND THE ‘FISCAL CLIFF’

By Matt Erickson merickson@ljworld.com

Mike Yoder/Journal-World Photo

IN A POPULAR ANNUAL TRADITION, the Spencer Museum of Art’s 18th century Italian “Presepio” is currently on display. The nativity scene is in its original architectural setting of a ruined basilica. These figures are part of the collection donated to Kansas University by Sallie Casey Thayer in 1917 as the basis for the university’s art collection. The Spencer’s “Presepio” is said to be one of the finest examples of its kind in the United States.

For these guys, last-minute holiday shopping is a time-honored tradition By Matt Erickson merickson@ljworld.com

It’s about 1 p.m. on Christmas Eve, and Pat Osness has yet to begin Christmas shopping for his wife. Others might be growing

anxious. But Pat is leaning back in his booth at Buffalo Bob’s Smokehouse. He’s right on schedule. “I’m not desperate yet,” Osness said. “If it was 4:30, quarter to 5, I’d be nervous.”

Business Classified Comics Deaths

High: 26

THESE FIVE MEN have developed a tradition of doing their Christmas shopping every year on Christmas Eve. Pictured Monday at Weaver’s Department Store are, from left, son-in-law Stan Thompson, Olathe, son Pat Osness, Olathe, son-in-law Rod Peck, San Diego, father Wayne Osness, Lawrence, and son-in-law Owen Buckley, Kansas City, Mo.

This is how he’s done it for years now, just like the others huddled around a family barbecue meal at Buffalo Bob’s at lunchtime Monday.

Richard Gwin/Journal-World Photo

Please see SHOPPERS, page 2A

INSIDE

Cold, windy

Low: 9

Today’s forecast, page 12A

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Events listings Horoscope Movies Opinion

12A, 2B Puzzles 11B Sports 4A Television 10A

Whoops: Partly because of a misplaced decimal point, Kansas University earlier this month overstated the potential “fiscal cliff” effect on KU students’ federal loan costs — by millions of dollars. Earlier, KU reported a potential cost for students of about $27 million. But according to the university’s latest figures, KU now calculates the potential additional loan costs for students over the course of 2013 at about $206,000. Tim Caboni, KU’s vice chancellor for public affairs, said the change was due partly to an error that university officials discovered in a formula provided to KU by a national organization. University officials have also learned more details about how the possible federal budget sequestration will affect student loans since the first calculations were done in the fall, he said. “We feel strongly about ensuring that the data we present is as accurate as possible and apologize for KANSAS the error,” Caboni said in an UNIVERSITY email message to the Journal-World on Friday. On Monday, Caboni declined to name the organization that passed on the faulty formula. He said KU was focused on spreading the correct information. “It was unfortunate, but we’re glad we caught it,” Caboni said. It was good news to learn that student loans won’t be affected to the tune of tens of millions of dollars, Caboni said, but any effect on loans will be too much. And the university still estimates that “fiscal cliff” sequestration would have a total annual cost of about $18 million in federal research funding. That’s based on the roughly $215 million in federal funds the university received in the 2011 fiscal year. Only one week remains for Washington to reach a budget deal before sequestration — a set of automatic budget cuts and tax increases — goes into effect Jan. 1. “I think the real story, unfortunately, is that there is no deal yet,” Caboni said. And signals from Washington indicate that any solution will likely not be a long-term one, he said. So it may not be long before KU officials, including Caboni, are again pushing against calamitous cuts to higher education. “Unfortunately, we may be back here again sooner rather than later,” Caboni said.

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Delivering holiday cheer

Vol.154/No.360 24 pages

For at least 15 years, a Lawrence family has spent Christmas Eve baking hundreds of cookies and delivering them to emergency crews who work the night shift. Page 3A

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