Word: refundings
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CREDIT UNIONS would generally lend to a salesman-member at 12% annually. But if he belonged to Polaroid Corp.'s credit union, an annual refund of interest would reduce the real rate to 9.6%. Payments: about $80 a month for three years. BANKS offered strikingly varied terms on a straight installment loan. In Boston, National Shawmut Bank would lend at 14% per year for 24 months (monthly payment: $96.02). First National Bank of Boston would offer a "revolving line of credit" with an indefinite repayment period and charge interest of 18% annually on the first $500 of unpaid balance...
When the policy change was announced last month, Dr. Warren E.C. Wacker, director of the UHS, said he had no idea how many students would refuse to participate in the plan, but that the number of people who asked the UHS to refund their 56 cents would not affect the policy...
...plan is fair--it allows those of us with moral or religious objections to take no part in abortion coverage. But the structure of the refund policy makes it necessary for the individual student to make the active effort of writing a special letter to do so. In the future I believe it would be more equitable to include a refund option, which students could check, on the original Health Care Plan for the year...
However, students should realize that as the situation now stands, unless they actually take the necessary steps to obtain a refund, they are by forfeit financially and morally supporting voluntary abortion through the fee they have already paid for their Student Health Care Plan...
...addition, I would like to clarify the statement attributed to me in Seidman's article of Nov. 12, which reads, "The important thing to me is that I don't have to pay for any part of it." (The "it" refers to abortion coverage.) The reason a refund is important to me is in no way strictly monetary, as might be construed from the above statement as quoted. The fee for abortion coverage, and therefore the refund I will receive, is less than $1.00. But I believe my financial support of abortion would imply moral support of the procedure...