Repository: UIHistories Project: Board of Trustees Minutes - 1984 [PAGE 108]

EXTRACTED TEXT FROM PAGE:

1982]

UNIVERSITY OF ILLINOIS

99

T o assist institutions in reducing their current default rates which, in turn, will increase their eligibility for future funding, the federal government has agreed to accept the assignment of notes which have been in default for two or more years if the due diligence collection efforts have taken place. Loans assigned to the federal government will not be counted in determining the University's default rate but the government will retain any funds it may recover on the assigned loans, including any portion thereof furnished by the University. T h e value in terms of increased eligibility for federal student loan support to be derived from the assignment of these defaulted loans to the federal government is greater than the net recovery which might be anticipated from the University's continued efforts at collection. T h e net assets of the loan fund will remain in excess of the University contribution to the fund. The executive vice president has recommended that the Board of Trustees approve the assignment to the U . S . Government of defaulted NDSL notes on which reasonable collection efforts have been made by the University in the following maximum amounts: Chicago campus Health Sciences C e n t e r . . . . University Center Urbana-Champaign campus I concur. O n motion of M r . Howard, this recommendation was approved by the following vote: Aye, Mrs. Day, Dr. Donoghue, M r . Forsyth, M r . H a h n , M r . Howard, Mrs. Shepherd, M r . Stone; no, none; absent, M r . M a d d e n , M r . Neal, Governor Thompson. ( T h e student advisory vote was: Aye, M r . Cobb, Miss Forsyth; no, none; absent, M r . Bandala.) Contract, West Side Veterans Administration Hospital, Chicago (13) T h e University has for some years contracted with the West Side Veterans Administration Hospital in Chicago for the sharing with the University of Illinois Hospital of specialized medical resources to minimize the duplication of personnel, equipment and space. T h e contract calls for each hospital to bill the other for the direct costs of services rendered the other's patients. Billings exclude professional services. T h e dollar value of the care provided to veterans by the University Hospital has, in the past, exceeded that of the care provided by the Veterans Administration Hospital. T h e pattern is expected to continue. The chancellor at the Health Sciences Center has recommended that the contract with the West Side Veterans Administration Hospital be renewed for the period October 1, 1982, through September 30, 1983. Funds are available in the Hospital Income Fund (if needed) to reimburse the Veterans Administration Hospital. T h e executive vice president concurs. I recommend approval. O n motion of M r . Howard, this recommendation was approved by the following vote: Aye, Mrs. Day, Dr. Doncghue, M r . Forsyth, M r . H a h n , M r . Howard, Mrs. Shepherd, M r . Stone; no, none; absent, M r . M a d d e n , M r . Neal, Governor Thompson. ( T h e student advisory vote was: Aye, M r . Cobb, Miss Forsyth; no, n o n e ; absent, M r . Bandala.) $ 27 651 158 464 88 097 ( 16 loans) (134 loans) ( 52 loans)