Broad is back — museum hosts student party
Flannel Four steal Izzone spotlight
MSU gymnasts sts fall to Western Michigan
CAMPUS+CITY, PAGE 3
FEATURES, PAGE 5
SPORTS, PAGE 6
Freshman hman gymnast Lisa a Burt ADAM TOOLIN/THE N/THE STATE NEWS
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Three-day forecast, Page 2
KNOWING YOUR LOAN Obama’s new plan makes it easier for college students to repay
Typical student debt scenario under Pay As You Earn How much did you borrow?
Typical monthly payments based on median incomes
Estimate of when debt will be completely paid off
Estimated monthly payment $114
By Kellie Rowe rowekell@msu.edu
$70,000
THE STATE NEWS
Qualifies for Pay As You Earn Does not qualify
How long will it take you to pay it off?
$242
$322
$357
Paid off in
20 years
■■
Angelo Hankes was going to get a degree no matter the cost. “I was always raised thinking I’m going to college — I’m going to college no matter what,” he said. But like thousands of other MSU students, the history, philosophy and sociology of science senior came from a financially disadvantaged background. He accepted scholarships and grants, but it wasn’t enough. It was time to look at loans. Direct? Federal? Unsubsidized? What did it all mean? “It was kind of daunting in the fact that you’re thinking, ‘Oh, I have to pay this back … Hopefully I’ll get a job afterwards,’” Hankes said. Hankes is one of thousands of MSU students using loans to pay for college. He echoes the same worries as many other college students — What if I don’t find a job right after college to pay it all back? Wit h P resident Ba rac k Obama’s Pay As You Earn, a reformed federal loan program implemented Dec. 21, students won’t have to worry about defaulting on loan payments and plummeting credit scores if they can’t find a job immediately after graduation. The loan situation Val Meyers, associate director of the MSU Office of Financial Aid, said almost all MSU See LOANS on page 2
More online … To see a video of MSU students discussing their loans and debt, visit statenews.com
$242
$114
$60,000
$322
$242
$114 $50,000
$322
THE STATE NEWS ■■
Longtime MSU Curator of History Val Berryman was a historian to the very end. Berryman died Friday morning at Hospice House of Mid-Michigan from complications of bone cancer, MSU Museum Director
Paid off in
How this graphic was made $242
$114 $40,000
$322
Paid off in
$322
$242
$114 $30,000
Paid off in
12 years MSU Average: $23,725
$242
$114 $20,000
Median income
Paid off in
9 years
$57
$10,000
$57
Line of amnesty Under the Pay as You Earn program, if debt remains after 20 years of on-time payments, the government covers the rest
Please note Monthly payments are usually lower if there is more than one person in a household. This graphic reflects single-person households
Paid off in
7 years Graduation $30,460
5 years $45,833
10 years $55,389
15 years $59,617
20 years $64,801
SOURCES: STUDENTAID.ED.GOV, U. S. CENSUS BUREAU
Different types of student loans
1
This graphic aims to show typical student loan repayment scenarios. Median incomes were taken from 2010 U.S. Census Data, with the assumption that the graduating student is aged 22-25. Monthly payments were calculated at studentaid.ed.gov
14 years
2
Stafford Loan Most students will qualify for this type of federal loan.
A Subsidized
Eligible students: High-need student Loan limit: Depends on grade level Loan fees: A 1 percent origination fee, so students receive 99 percent of the loan Interest: The government will pay the 3.4 percent interest rate for undergraduates while they are in school and six months after they leave school. Repaying the loan: MSU provides information when students get close to graduating to help figure out how to pay back the loan.
B Unsubsidized
Eligible students: High-need student Loan limit: $5,500 per year for undergraduates, $8,000 for graduate students Interest: Students can but do not have to pay interest while in school. The interest rate is 6.8 percent. Repaying the loan: MSU provides information when students get close to graduating to help figure out how to pay back the loan.
Perkins Loan Eligible students: Students with a high need. FAFSA report will determine this. Loan limit: $5,500 per year for Undergraduates, $8,000 for graduate students Interest: Government will pay the 5 percent interest rate while the student is taking classes, as well as until nine months after graduation. Repaying the loan: Repaid to MSU, students usually must pay back loans within 10 years. Debt can be canceled if student is working in teaching or public service
3
INFOGR APHIC BY LIAM ZANYK MCLEAN | SN
Parent Loan Also referred to as a PLUS loan Eligible students: Guardian of a dependent student. Must be a U.S. citizen or an eligible non-citizen. Loan limit: Students will not be awarded more than it costs to attend MSU. Loan fees: A 3 percent origination fee and a 1 percent default fee paid when students receive the loan. After the loan fees, students actually will receive 96 percent of the loan. Interest: The interest rate is about 8 percent under direct loans. Repaying the loan: After students receive the loan, the first payment is due in 60 days.
BASKETBALL
Gary Morgan said. Berr yman was 72. In his final months, Berryman worked tirelessly on an exhibit about Berryman the growth of technology throughout time, Morgan said. “Adventures in
Time and the Third Dimension,” will open in February with the help of the rest of the museum’s curators, Morgan said. “In many ways it’s very fitting that Val’s last project will be a very dynamic and popular exhibit for everybody,” See OBITUARY on page 2
FACE TIME TRUSTEE BRIAN MOSALLAM At last Friday’s Board of Trustees meeting, members of the board welcomed newly-elected Trustee Brian Mosallam to their team. In November, Mosallam, a Democrat, defeated former Republican Trustee Melanie Foster in a race that was too close to call on election night. By that Wednesday afternoon, the results were in — Mosallam beat Foster by a popular vote margin of about 75,000 votes. THE STATE NEWS: Would you say that you campaigned on the principles of keeping college affordable? My whole premise is, you know, making sure that working families can afford tuition for their children. … As a financial adviser, I see that today, the two most (important) questions my
$357
16 years 18
CURATOR OF HALF A CENTURY REMEMBERED morandar@msu.edu
Paid off in
19 years
OBITUARY
By Darcie Moran
$357
Mosallam described the election and the months leading up to it as a “whirlwind.” During the next eight years, Mosallam said he hopes to cater to students’ needs and make college affordable. Mosallam, a 1996 alumnus and former Spartan football player said his own experiences will help him connect with students today. The State News spoke with Mosallam to find out what his goals are as a trustee. – Samantha Radecki, The State News
clients have are, ‘How much is college going to cost?’ — that’s the next most important (question) too, ‘Will I have enough saved for retirement?’ … We have a responsibility, as trustees of the school, (to ensure) students are getting the best bang for their buck.
for a tuition increase during your time as an MSU trustee? BM: I think that’s a very premature question, I can’t answer hypothetically. We have to look at every situation (as it comes). … Believe me when I tell you
TSN: Will you ever vote
See MOSALLAM on page 2
Big scare for Dawson as MSU beats Nebraska By Josh Mansour mansou13@msu.edu THE STATE NEWS ■■
When Branden Dawson takes flight, he reaches a rarefied air few can meet. But for one MSU 66 scary moment NEB 56 Sunday night, it appeared as if Dawson’s soaring days might be numbered. After falling to the ground, clutching his knee and letting out a guttural scream while being fouled on a fast break layup attempt, Dawson glumly left the court, leaving some wondering if he’d destroyed the same anterior cruciate ligament, or ACL, he spent months rehabilitating. The answer came quickly. In a matter of minutes Dawson sprinted out of the locker room to the Spartans bench and checked back into the game. His return, combined with explosive performances from centers Adreian Payne and Derrick Nix, sparked the Spartans, lifting the No. 22 MSU men’s basketball team (14-3 overall, 3-1 Big Ten ) to a 66-56 victory over Nebraska (9-8, 0-4 ) Sunday night at Breslin Center. Nix led the way with 17 points and five rebounds, while Dawson tallied 12 points and six rebounds, and Payne added 14 points off the bench. An 11-2 run from Nebraska helped the Cornhuskers take
JUSTIN WAN/THE STATE NEWS
Senior center Derrick Nix shoots a basket as Nebraska guard/ forward David Rivers defends in the second half of the game.
the lead, 23-19, with 7:58 to go in the first half — a lead they would maintain for most of the rest of the period, until a pair of
Nix free throws evened the score at 32 going into halftime. The See NEBRASKA on page 2