2 ! November 4, 2010
On On Campus Campus
‘The Long Yearning’s End’ Tonight, Fr. Pat Hannon, C.S.C., will read from his new book, “The Long Yearning’s End,” at 7:30 in the Pilot House.
ST U D E N T D EB T
Trafficking Conference Starting tonight, Oregonians Against Trafficking Human (OATH) Trafficking Conference begins at 6:30 in Shiley 301. Speakers will share personal stories about their loved ones being trafficked, and there will be a showing of the movie, “Very Young Girls.” The conference continues Saturday from 9 a.m. to 5 p.m. and Sunday 12:30 p.m. to 4 p.m. in Buckley Center. All events are free and open to the public. CPB Coffeehouse Tomorrow, CPB Coffeehouse is showcasing Pete Francis, a solo artist from New York City, at 10 p.m. in St. Mary’s. ‘Inception’ Tomorrow and Saturday, “Inception” will play in the Buckley Center Auditorium at 10 p.m. Pilots After Dark On Saturday, Pilots After Dark continues with its “Neon Night” in Howard Hall at 10 p.m. Dress in neon and come to tie-dye. Shirts and bandanas will be given away, but students are encouraged to bring their own items as well. Kim Barnes Monday, Kim Barnes, acclaimed novelist and memoirist, will give a reading at 7 p.m. in Buckley Center room 163. The event is free. Correction In the Oct. 28 issue, The Beacon incorrectly listed Aziz Inan’s e-mail. It’s firstname.lastname@example.org. Clarification In the Oct. 28 issue, the story about study abroad programs and alcohol consumption included a photo illustration that featured photos of several UP students. Those photos were graphically affixed to appear as labels on liquor bottles. One of the photographed students did not give his consent to The Beacon design editor to use his likeness in that particular context, although he did authorize The Beacon to use the photo for the story. The Beacon apologizes for any embarrassment the photo illustration might have caused that student and any false impression it might have created. Accuracy in The Beacon The Beacon strives to be fair and accurate. The newspaper corrects any significant errors of fact brought to the attention of the editors. If you think an error has been made, contact us at email@example.com. Corrections will be printed above.
Photo by Kevin Kadooka Photo Illustration by Rosemary Peters
A six percent increase in the average national student debt brings the class of 2009’s average to $24,000 Jocelyne LaFortune Staff Writer firstname.lastname@example.org $24,000 will buy you a brand new Toyota Prius. Or perhaps you’d prefer to spend it on a luxurious trip to Europe. Whatever you would choose to spend it on, $24,000 is a lot of money. $24,000 is also the average amount of debt carried by U.S. college graduates in the class of 2009, a six percent increase from 2008, according to a report from the Project on Student Debt. The annual report focuses on students who graduated with loans from both private and public four-year colleges. The six percent increase in average debt is consistent with increases over the past four years, according to the report. So far this year, 53.3 percent of students currently at UP are using student loans to help fund their education. According to Janet Turner, director of Financial Aid, the average debt for students with loans in UP’s class of 2010 was $22,284. Consistent increases in the unemployment rate could also be hindering grad’s abilities to pay back their loans, according to the Project on Student Debt. In September, Oregon’s unemployment rate was 10.3 percent, compared to a national average of 9.2 percent, according to the U.S. Bureau of Labor Statistics. While loans are necessary for most students to afford tuition, there are ways students can help lessen the burden of loans after graduation. “One of the most important
things students with loans should do is to stay in contact with your lender,” Turner said. “Know who your lender is and know exactly what you owe.” Students should also be sure to have their Free Application for Federal Student Aid (FAFSA) filled out correctly, according to Turner. She also recommends working part time while going to school. “By working part time during school, students can make payments that could at least cover the interest on their loans,” Turner said. “This way interest isn’t capitalizing on your loan while you’re in school.” Students looking for financial assistance can take out federal or private loans. While federal loans are issued by the U.S. government, private loans are borrowed from other lenders ,such as banks or credit unions. According to Turner, students taking out private loans should be especially careful. “With private loans, the lender has their own interest rates,” Turner said. “So students need to make sure that they know exactly what they are going to owe later on.” Junior Chris Collins estimates that he will have approximately $100,000 of debt when he graduates. “I took out all my own loans to pay for school,” Collins said. “I got some scholarship money from UP but I still have to take out about $30,000 in loans each year, and I can’t afford to make payments until after I graduate because of other expenses like rent.” The National Student Loan Data System (NSLDS) is the
U.S. Department of Education’s Adam Lyon estimates that his centralized database for federal debt will be between $20,000 student loans. Using the NLDS, and $25,000 when he graduates. students with federal loans can “I really don’t know how I’m view their loan information in going to pay back my loans,” one centralized place. The NLDS Lyon said. does not provide information on private loans. At StudentLoans.gov, students can view different payment plans and get other information from the U.S. Department of Education about managing their federal To help lessen the burden of student loans. ever-rising tuitions and the need Tools such as for loans, Turner recommends out-of-pocket searching extensively for worksheets and scholarships outside of UP. loan payment calculators, The ‘Kitchen Table’ Method as well as Sit down at home and make a list of businesses, information clubs, churches and organizations in your on what steps community. Search their websites extensively to take if you for scholarships they might offer, or go ask about can’t make a scholarships. You never know until you ask! payment, can There are hundreds of scholarships with different be found at criteria, and every bit of scholarship money can this web site. be helpful in decreasing the amount of loan “Outmoney needed. of-pocket Other Resources worksheets can be useful Websites such as theWashBoard.org can be for parents useful tools for finding scholarships, according and students to Turner. TheWashBoard.org allows students to to help budget create profiles, and then matches them up with their loans,” scholarships for which they could potentially Turner said. qualify. “Be realistic Getcollegefunds.com is the state of Oregon’s about salaries official website for student financial aid, grants and payments and scholarships. It provides students the opportunity to research and locate grants and – know how scholarships for which they could qualify. much is too University of Portland’s annual Financial Aid much for you Newsletter has important information on workor your family study, the FAFSA, payment plans and loans. A to afford.” calendar of important financial aid dates can also Junior be found in the newsletter.