January 16-17, 2003

TO:  Board of Regents

FROM:  Arlene Hannawalt

RE:  Nominations to the Student Loan Advisory Council

DATE:  January 16, 2003

There are four vacancies on the Student Loan Advisory Council: one representative from the 4-year private colleges, one from the lending community, one from the secondary market, MHESAC and the student representative. We are awaiting a recommendation from MAS for the student representative and will be presenting that recommendation at the next Board of Regents meeting.

It is my recommendation that Richard "Dick" Franz, Financial Aid Director at Carroll College, be re-appointed to represent the 4-year private colleges. Dick has been Financial Aid Director at Carroll College since 1989. Prior to being named Financial Aid Director, Dick served as the college's Business Office Manager and Controller. He brings over 20 years of experience in the educational and finance fields.

It is my recommendation that Michael McKendrick, Regional Market Manager for U. S. Bank be re-appointed as one of the two representatives from the lender community. The other lender representative's term does not expire until 2003. Michael has been with U.S. Bank since 1998. Prior to joining U.S. Bank, he worked for Wells Fargo for four years. In addition, Michael has spent over six years working in financial aid and financial services at Brigham Young University. He has his BA and MPA from Brigham Young University. Michael has been very active in the financial aid services organizations and brings over 14 years experience in the educational and finance fields.

Finally, it is my recommendation that Lowell Wollitz, Client Services Director for the Student Assistance Foundation of Montana, be appointed to represent MHESAC, the secondary market in Montana. MHESAC no longer has any direct employees and is serviced by SAF. Lowell's position at SAF as director over the MHESAC servicing operations will be invaluable to the Student Loan Advisory Council by ensuring MGSLP is meeting the needs of MHESAC customers. He is responsible for all loan servicing activities and quality assurance. In addition to be over the servicing activities of MHESAC he is also responsible for the servicing of the small lenders in Montana that contract their servicing needs with SAF. Lowell has his BA in Business Administration from North Dakota State College. He has 23 years experience in banking and has been with MHESAC and SAF since 1993. He brings a wealth of financial servicing experience with him.