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       Dr. Clapp reminded the members of the financial assistance provided by
the University to students in the form of scholarships, grants and loans.
That figure in 1992-93 was in excess of $80 million dollars. He pointed out
three payment options for students: check, cash and credit card cash
advance. He explained that the credit card cash advance would not be
processed through the University, and the students would have their same
credit limit.

       Governor Breathitt entertained questions from the Executive Committee
and then introduced Mr. Ken Walker, who is a graduate of the College of Law
and is now with Bank One.

       Mr. Walker mentioned his qualifications for representing Mr. Dowdy and
the students of the University. He presented his argument in defense of
students being allowed to use credit cards for tuition payment and said that,
in his opinion, it was merely shifting the burden to the students and
parents. He asked the members of the Executive Committee to balance the many
interests of the academic side, the student side and the parent side and not
be a rubber stamp for the proposals made by the administration. He urged the
members to keep the credit card payment system to help the students and
parents.

       President Wethington stated that this was one of the tough decisions
made during the last year by the administration. He stated that
discontinuance of credit card payment was a financial decision that was
necessary and warranted.

       Mrs. Weinberg asked if it would be possible to have the Board analyze
the University's policy for student services and fees. She also suggested
looking into the installment payment plan to determine if it could be done
without incurring any additional expense for the University.

       President Wethington pointed out that any mandatory fee that is levied
on all students comes to the Board for approval. He said that he would be
pleased to present a complete report on all facets of fees charged to
students, both mandatory and non-mandatory in the institution.

       Several Board members expressed displeasure in Mr. Walker's reference
to the Board as a rubber stamp for the administration.

       Governor Breathitt said that he had real confidence in the
administration. He stated that in the time of tight money he wants the
administration to set priorities and an agenda for the University. He said
that, in his opinion, the credit card decision was in the students'
interest. He said that the University of Kentucky is one of the best
bargains for students in the country, and the administration has to act
zealously to protect the University's fiscal position to keep it a bargain.

       Mrs. Weinberg commented that her suggestion was to look at the whole
student services and student fees issue.