daily trojan, Vol. 108, No. 39, March 10, 1989 |
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Karon Howell leaves Troy a winner, despite losing season /12 USC comic improvises career / 6 Volume CVIII, Number 39 University of Southern California Friday, March 10, 1989. Bank losses may threaten student loans Computer processing mistakes to blame, Bank of America says By Chris Eftychiou Staff Writer Student loans backed by Bank of America may be jeopardized by a federal government decision not to compensate the bank for losses in its student loan program, the executive director of the California Student Aid Commission said Thursday. Bank of America, one of a number of banks whose combined losses are between $450 million and $650 million, blames the situation on computer errors in the processing of $1 billion in loans, said Tom Chapman, a Bank of America spokesman. The computer errors were made by United Education and Software of Endno, hired by Bank of America to process the loans, Chapman said. Students attending vocational schools and community colleges may not be able to obtain loans, but those at four-year institutions like USC will probably fare better, said Samuel Kipp, executive director of the aid commission. Banks consider students at community colleges and vocational schools to be higher risks for loans, with generally greater default rates than students (See Loans, page 2) trojan LESUE DURHAM / DAILY TROJAN David Bortshansky, a 16-year-old high school student from Grandville, Ohio, rehearses Thursday for the eighth annuel Seventeen magazine and General Motors National Concerto Competition, which will be held from today to Monday on campus. Borishansky Is one of 33 high school musicians who will compete. See pege 2. Allegro con Brio Election troubles get mixed reactions Campaign violations discourage some but inspire others to vote By Bryan Culp Staff Writer Alleged campaign violations and questions about interpretation of rules in this year's Student Senate elections have spurred some students to vote, while others say they remain apathetic. "I don't see much of the direct action of the senate so I don't know why I should vote," said Juris Jansons, a sophomore majoring in physics. "Plus I don't know any of the candidates. You go to the ballot and you see names and you vote for the prettiest-sounding one." But Aaron Goldman, chairman of the elections and recruitment commission, said candidates are more serious this year about promoting campus change. "A lot of people want to run for president this year, so everyone's campaigning really hard to get elected," Goldman said. "Plus we've been in the headlines all week, so that's helped too." This week, six Greek candidates were disqualified and seven others given one-day suspensions Tuesday for violating campaign guidelines. Five candidates affiliated with the campus group Young Americans for Freedom stirred up student leaders' emotions by announcing they would cease funding for the Gay and Lesbian Assembly for Student Support. The disqualified candidates were al- lowed to re-enter the race Wednesday after their names were eliminated from an updated list of active Phi Delta Theta fraternity members. A complaint was also filed against Tara Brigham, a candidate for commuter senator. It alleged that she exceeded the $100 campaign spending limit by paying for a $94.50 advertisement in the Daily Trojan. Brigham said she had no knowledge of the ad or who placed it. The accusations and counteraccusa-tions have turned some students off to the whole election process. "It's turning into a joke," said Scott Olsen, a sophomore majoring in pre-business. "The candidates shouldn't be trying to pull one over on the student body." Meher Gourjian, a freshman majoring (See Election, page 8) 3 [n: Brief LOCAL Businessman shot, killed in limo by hail of gunfire BREA, Calif. (AP) — A businessman was slain ambush-style Thursday in a fusillade of gunfire on his chauffeur-driven limousine at the gates of his estate in the posh Carbon Canyon area. Horace McKenna, 46, who owned and trained Arabian horses on the estate and owned bars in Los Angeles, was being driven home when a blast of gunfire hit his limousine a mile from his house, police said. INSIDE Komix___________________________________________ 2 Viewpoint....................................... 4 Performance_________________________________ 5 Security Roundup........................ 8 Sports------------------------------------------12 WEATHER Today — Fair skies with few high clouds, high in 70s Saturday — More of same, high near 75, low in mid-50s
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Title | daily trojan, Vol. 108, No. 39, March 10, 1989 |
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Full text | Karon Howell leaves Troy a winner, despite losing season /12 USC comic improvises career / 6 Volume CVIII, Number 39 University of Southern California Friday, March 10, 1989. Bank losses may threaten student loans Computer processing mistakes to blame, Bank of America says By Chris Eftychiou Staff Writer Student loans backed by Bank of America may be jeopardized by a federal government decision not to compensate the bank for losses in its student loan program, the executive director of the California Student Aid Commission said Thursday. Bank of America, one of a number of banks whose combined losses are between $450 million and $650 million, blames the situation on computer errors in the processing of $1 billion in loans, said Tom Chapman, a Bank of America spokesman. The computer errors were made by United Education and Software of Endno, hired by Bank of America to process the loans, Chapman said. Students attending vocational schools and community colleges may not be able to obtain loans, but those at four-year institutions like USC will probably fare better, said Samuel Kipp, executive director of the aid commission. Banks consider students at community colleges and vocational schools to be higher risks for loans, with generally greater default rates than students (See Loans, page 2) trojan LESUE DURHAM / DAILY TROJAN David Bortshansky, a 16-year-old high school student from Grandville, Ohio, rehearses Thursday for the eighth annuel Seventeen magazine and General Motors National Concerto Competition, which will be held from today to Monday on campus. Borishansky Is one of 33 high school musicians who will compete. See pege 2. Allegro con Brio Election troubles get mixed reactions Campaign violations discourage some but inspire others to vote By Bryan Culp Staff Writer Alleged campaign violations and questions about interpretation of rules in this year's Student Senate elections have spurred some students to vote, while others say they remain apathetic. "I don't see much of the direct action of the senate so I don't know why I should vote," said Juris Jansons, a sophomore majoring in physics. "Plus I don't know any of the candidates. You go to the ballot and you see names and you vote for the prettiest-sounding one." But Aaron Goldman, chairman of the elections and recruitment commission, said candidates are more serious this year about promoting campus change. "A lot of people want to run for president this year, so everyone's campaigning really hard to get elected," Goldman said. "Plus we've been in the headlines all week, so that's helped too." This week, six Greek candidates were disqualified and seven others given one-day suspensions Tuesday for violating campaign guidelines. Five candidates affiliated with the campus group Young Americans for Freedom stirred up student leaders' emotions by announcing they would cease funding for the Gay and Lesbian Assembly for Student Support. The disqualified candidates were al- lowed to re-enter the race Wednesday after their names were eliminated from an updated list of active Phi Delta Theta fraternity members. A complaint was also filed against Tara Brigham, a candidate for commuter senator. It alleged that she exceeded the $100 campaign spending limit by paying for a $94.50 advertisement in the Daily Trojan. Brigham said she had no knowledge of the ad or who placed it. The accusations and counteraccusa-tions have turned some students off to the whole election process. "It's turning into a joke," said Scott Olsen, a sophomore majoring in pre-business. "The candidates shouldn't be trying to pull one over on the student body." Meher Gourjian, a freshman majoring (See Election, page 8) 3 [n: Brief LOCAL Businessman shot, killed in limo by hail of gunfire BREA, Calif. (AP) — A businessman was slain ambush-style Thursday in a fusillade of gunfire on his chauffeur-driven limousine at the gates of his estate in the posh Carbon Canyon area. Horace McKenna, 46, who owned and trained Arabian horses on the estate and owned bars in Los Angeles, was being driven home when a blast of gunfire hit his limousine a mile from his house, police said. INSIDE Komix___________________________________________ 2 Viewpoint....................................... 4 Performance_________________________________ 5 Security Roundup........................ 8 Sports------------------------------------------12 WEATHER Today — Fair skies with few high clouds, high in 70s Saturday — More of same, high near 75, low in mid-50s |
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