4 In Fraternity Cash In On Refund Program Good Grades, Good Behavior Pay Off For Theta Chi Quartet

Sat., June 29, 1996

Associated Press

Earning good grades and staying out of trouble paid off for some members of Theta Chi fraternity who graduated from the University of Idaho this spring.

Four Theta Chi graduates will receive a total of $17,474 as part of a fraternity refund program implemented last fall.

Fraternity Financial Adviser Donald Beckley of Moses Lake is pleased.

“We implemented this program to solve disciplinary and behavior problems and in that way try to attract more people in our fraternity,” Beckley said.

While it will not solve all the problems, Beckley said Theta Chi is hoping to retain some of the older members longer in the house to be good examples for younger students.

“One of our struggles has been members stay a year then they go on to an apartment and we don’t get to use their maturity to help the class behind them,” Beckley said.

Students who sign on for the refund program must live in the house six semesters, pay their house bill on time, stay out of trouble and graduate.

The refund is made possible through a 10-year note bearing 5 percent interest to the holder. The money awarded to graduates will be paid to them in 10 equal annual installments starting the year after graduation.

“It will always be a revolving debt but it will be, in effect, the students owing the alumni and the students become the alumni and they are paying themselves back,” Beckley said.

The four will receive 50 percent of the rent they paid while in school.

The percentage is based on a student’s cumulative grade-point average. If a member earns a 3.499 GPA or less, 50 percent of his rent will be returned. A 3.5 to 3.99 GPA equals 75 percent back and a 4.0 GPA equals a 100 percent return.

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