Lincoln (Neb.) - Feb. 12, 1998 - The University of Nebraska- Lincoln has completed a plan to help international students from countries that have experienced precipitous declines in the value of their currency over the last six months.
About $150,000 in grants and loans will be available to help such students complete the current year of study. Up to $90,000 will be made available for tuition assistance grants for the spring semester, with a maximum individual award of $1,200.
In addition, $60,000 in short-term loans will be made available to students. The loans will be for a maximum of six months. Earlier, the university granted affected students a penalty-free extension to pay university accounts and promised to help students find part-time jobs.
Chancellor James Moeser said about 350 students are affected by the currency devaluation in their home countries.
"Some of these students have seen their resources funding the current semester cut in half," Moeser said. "I am delighted that we have been able to draw on private sources of funding to help these students, and I am very pleased that our academic community can respond in such a helpful manner to members who experience unanticipated financial crises."
Moeser said the endowment fund created by the university's exclusive beverage alliance with the Pepsi-Cola Co. provided all of the grant funding and half of the loan funding. He said the other half of the loans will come from a short-term student loan fund established by the University of Nebraska Foundation in 1981.
Students seeking economic assistance as a result of currency
devaluation should call the Office of International Affairs at
472-5358 for application materials. The application deadline to
be considered for grants and loans is March 1.
For questions regarding these releases, contact:
(402) 472-8514, Fax: (402) 472-7825