'The Hidden Job Market' Cannaday Cleared Of
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CATHOLIC UNIVERSITY PAGE 5 SOFTBALL SPLIT PAGE 10 Vandals steal student newspapers Women give up one in soggy double-header THURSDAY The GW April 2, 2009 ALWAYS ONLINE: WWW.GWHATCHET.COM Vol. 105 • Iss. 51 Hatchet AN INDEPENDENT STUDENT NEWSPAPER - SERVING THE GW COMMUNITY SINCE 1904 Credit crisis SMOOTHSAILING Admissions hits student steady in borrowers rocky times by Sarah Scire and Mike Phillips Hatchet Staff Writers by Rachel Barker Hatchet Staff Writer The nation’s tightening credit market has forced top private student loan provid- Recently released acceptance fi gures for GW’s in- ers to alter their lending practices, prompt- coming class of 2013 are on par with previous years, ing concern in GW’s offi ce of fi nancial but the size of next year’s incoming class is far from aid about students’ access to manageable certain due to the widespread fi nancial turmoil. loans. The University sent out regular decision accep- The University’s top fi nancial aid ad- tance letters to 6,200 students last week, meaning total ministrator said he was worried last week selectivity remained almost unchanged at 37 percent – over new standards at the nation’s largest including early decision acceptances. The total number student loan providers that could make it of applications also remained stable at about 19,500. more diffi cult for undergraduate students But recent media reports indicate that the affects of to borrow for college from private lenders. the economic downturn on families has made it diffi - The changes include higher interest rates cult for expensive private colleges like GW to predict and more burdensome terms for student how many admitted students will matriculate – also borrowers with low-income or poor credit known as the yield rate. ratings, as well as requirements that stu- A steady yield rate is especially important for GW, dents begin paying off the debt while still which has a relatively small endowment and depends in college. on tuition to pay for the majority of its operating bud- Dan Small, executive director of fi nan- get. Accepted students have until May 1 to let the Uni- cial aid, said that requirements to attain the versity know if they will be attending. Nick Gingold/senior staff photographer lowest interest rates on student loans are Some colleges have increased their acceptance Sophomore Will Ricketson (left) and Senior Vice President of Student and Academic Support Services changing and borrowers with low credit rates in response to the ratings could be forced to pay an addi- Robert Chernak raise the University fl ag onto one of six new Flying Junior sailboats recently acquired by uncertainty in order to tional 9 percent on top of the regular rate. the GW sailing team during a commissioning ceremony in Kogan Plaza Tuesday afternoon. ensure full enrollment, By the numbers: While more GW students are turning to but GW has stayed the federally guaranteed loans, a signifi cant course. portion – about 35 percent – still take out Executive Dean for • 19,500 total private loans to help pay GW’s high tu- Undergraduate Admis- applications ition, well above the nationwide average Bindelglass seeks trust in SA sion Kathy Napper said of 19 percent. the University decided Funding for the low-interest and fed- by Emily Cahn not to make substantial • 6,200 students erally guaranteed Stafford and PLUS loan Assistant News Editor changes to its regular programs is limited. With the cost of high- decision acceptances accepted regular er education rising rapidly in recent years, Student Association President- this year, adding that decision more and more students have turned to elect Julie Bindelglass said her fi rst she is confi dent GW's private lenders to make up for the shortfall. priority as the SA’s leader will be to very high fi nancial aid But with the economy the recession, pri- regain the trust of the student body will help them woo • 37 percent vate lenders are becoming more selective after what she called a largely unsuc- uneasy families and and adapting terms that effectively cut off cessful year for the governing body. keep current students acceptance necessary credit lines for some students. Bindelglass, a sophomore, was enrolled. selectivity Small said he was also concerned elected SA president on March 26 “Obviously we are about new policies from Sallie Mae, the when she received 1,565 of the 3,018 concerned about how votes cast, defeating her run-off the economy will affect See CREDIT, p. 8 election opponent Nick Polk by 112 yield as we are about retention,” Napper wrote in an votes. She is now working together e-mail. “We believe that the additional funding ... that with Executive Vice President-elect the University is putting towards fi nancial assistance Jason Lifton to outline their main to assist both current and prospective students with goals for next year before the transi- need will go far in curbing any decline in yield and tion on April 30. retention.” Cannaday The Board of Trustees increased fi nancial aid by 10 “We defi nitely want to increase communication and that’s some- percent this February, although much of that amount thing that’s so easy to do within the will go toward students already at the University. fi rst 50 days, fi rst 100 days – during Reports indicate that the economy is a large con- that transition,” Bindelglass said of cern for admitted students. A Princeton Review survey cleared of this week found that economic conditions helped de- the month-long transition period she has before being sworn in as SA termine the college lists of 7 out of 10 students. president. Dan Small, executive director of fi nancial aid, said She added, “We have to regain the University is currently seeing a 10 percent rise in dealing the trust of students, we have to work aid applications from both prospective and currently really hard to change that perception enrolled students, although the number was not fi nal. by Gabrielle Bluestone and the only way we are going to do “We are still receiving aid applications and ex- Jonathan Ewing/Hatchet photographer Senior Staff Writer that is by making [the SA] relevant, pect to receive more right up until the summer,” Small Sophomore Julie Bindelglass reacts to becoming the Student As- but doing something that is going to said. A jury acquitted a former GW coun- help people.” sociation president-elect last Thursday. Despite increased applications for aid, Napper said that the University has not changed its need-blind selor last week of dealing drugs from his Bindelglass had a laundry list ing on,” Bindelglass said. “Jason has body will help Bindelglass and Lifton apartment adjacent to campus, but con- of goals listed in her platform while admission policy and early reports indicate that “given ideas, I have ideas, and we both come stay in tune with student concerns the changes in family circumstances,” the University victed him of gun and drug possession running for SA president, but she up with them but we want to make and the goals they are working to- charges. said she wants to make sure the goals accepted more students who applied for and received sure our priorities are in line with stu- ward. fi nancial aid. In August, agents she sets are ones that students want dent priorities. We want to make sure Dining is another issue Bindel- from the Drug En- to see accomplished. In interviews with The Hatchet, several admitted stu- we are working for students.” glass said she would focus on during dents expressed concern with the cost of attending GW. forcement Agency “First, we want to hear what proj- Opening up lines of communica- and offi cers with the ects everyone wants us to be work- tion between the SA and the student See BINDELGLASS, p. 6 See ADMISSIONS, p. 6 Metropolitan Police Department raided the apartment of Lawrence Cannaday and found two guns, cocaine, marijuana 'The hidden job market' and drug distribution Lawrence Cannaday supplies, according to by Lindsay Underwood moving toward a solution. a word about yourself.” court documents. Hatchet Reporter After a week-long trial, he was found “Forget about getting hired, that’s This trick is one that not only guilty on March 26 of four offenses – pos- the small part of the equation” Combs works at job interviews, but also at Motivational speaker and co- session of cocaine, possession of drug said. “In order for you to get a job parties, Combs said. “The human median Patrick Combs encouraged paraphernalia, possession of a fi rearm and even when they’re not hiring, it’s the response to somebody who takes a jobseekers to quit whining about the possession of ammunition – and is being underpinnings. It’s the foundational genuine interest in us, is to admire recession and rising unemployment held in custody until his sentencing on psychology that’s going to make the you back.” rate and start being more proac- June 2. difference.” Combs recommended a visit to tive during an address at the Elliott The jury acquitted him on the four The fi rst move that job-seeking the GW Career Center, which orga- School Tuesday night. remaining charges and their subsections, students should make, Combs said, nized the event along with GW Hous- Combs, who has brought his which include possession with intent to is to join a professional association ing Programs, to work on résumés motivational speeches to Fortune distribute cocaine while armed in a drug- in their fi eld of interest and work and interviewing techniques before 500 companies, said the published free zone and possession of a fi rearm dur- on increasing their social network.