Federal Financial Aid Programs

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

I am just beginning a graduate program that has an expected graduation date of 5/2000. My financial situation requires to use federally subsidized and unsubsidized Stafford loans to pay for the cost of school. I checked with the university I will be attending and the fiscal administrator of the Financial Aid office said he could not talk to me about Y2K compliance issues as they affect that department. He did say they were working on the problem (he refused to call Y2K a problem: "It's simply a situation."). Does anyone using this forum expect my school or the Stafford loan program to be running on 1/1/2000?

-- Michael Greene (mgreen@accesscom.net), April 07, 1998


No. While organizations have been lending money with amortization dates after 1-1-2000 for quite some time now, that is not the weak link in the system. Have you read Mr. Yourdan't book? Are you familiar with Congressman Horn's and the GAO's reports regarding the readiness (or rather lack thereof) of cabinet departments such as Treasury and Education (both involved in your case)? The picture is bleak.

-- P. Larson (ptrades@earthlink.net), April 08, 1998.

Michael, I have a son who is a junior at UW-Madison. He recently brought home the student newspaper. It had an extensive article about the Y2K problem. The man in charge said of the project said, "In my private opinion, we are in for a general crisis....a disaster." Best of luck! Gail

-- Gail (gmt@students.wisc.edu), April 08, 1998.

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