The Michigan Daily - michigandaily.com
LENDING
From Page 1A
who uses the website for lending,
said he would consider borrow-
ing money because of the lowered
interest rates.
"I think it can be beneficial to a
borrower so long as the loan appli-
cation is done thoroughly," Walby
said. "But you have to make sure
that you fill out the application
in full, and explain why you are
going to be able to pay it, because
the lenders read those and read
them thoroughly to see who has a
good story."
Theneedforlenderstoself-screen
borrowers maybe part of the reason
peer-to-peer lending sites like Pros-
per haven't really taken off.
Economics Prof. Matthew Shap-
iro said in an e-mail interview that
lenders run the risk of not getting
their loan repaid if they don't pick
their borrowers carefully.
"It is difficult for individuals to
assess the ability of a borrower to
repay a debt," he said. "It is also
difficult for individuals to col-
lect on loans that default. Banks,
credit card companies and other
institutional lenders are better set
up to assess the qualifications of
borrowers and deal with borrow-
ers who do not pay."
Students unfamiliar with Pros-
per doubted the safety of lending
and borrowing over the Internet.
"I'm not always very trusting
of internet sites," said LSA sopho-
more Sarah Sharp. "I wouldn't
want to give out information to a
site I didn't trust."
Despite the site's security con-
cerns, Walby said he thought it
seemed pretty safe for the purpose
of investment.
"Of the 25 or so loans that I've
given out, one of them has gone
delinquent," Walby said. "Prosper
went after that person and Prosper
paid me back in full even though
they weren't able to get the money
from that borrower."
Plisner said he feels that appre-
hension surrounding borrowing
and lending online will eventually
fade.
"As people become more
acquainted with Internet lending,
I think you'll see Prosper really
develop," he said.
STATE ID
From Page 1A
consider more than just the driving
issue."
International students who had
state identification before the policy
was enacted are legally allowed to
use that ID. International students
who were in the process of applying
for identification, though, will not
be allowed to get a driver's license
or state ID.
John Greisberger, director of the
University's International Center,
said most international students
and faculty new to the University
this term were unable to complete
driver's license applications before
the changes were passed.
International students may soon
gain more options.
Land, the secretary of state, is
pursuing changes that would allow
non-permanent citizens to obtain
state identification that would be
valid until their last day of school or
work.
"Under the attorney general's
opinion, those who are in the coun-
try legally but on temporary student
or work visas are ineligible for a
Michigan license, though most still
can drive using the license of their
home country. We need to recon-
sider that aspect of the law to avoid
unintended consequences for indi-
viduals or job providers," Land said
in a statement.
Also, two bills were proposed last
month - one in the state Senate and
another companion bill in the state
House of Representatives - that
would allow legal non-resident stu-
dents and workers to obtain identi-
fication.
Greisberger said he hopes the two
bills will fix the current situation by
the end of February.
Rackham student Liang Zhang,
president of the Chinese Students
and Scholars Association, said it
would be inconvenient to bring a
passport everywhere.
"If it were to get lost, it would
take a very long time to recover,"
Zhang said.
Zhang and his organization sent a
letter to University President Mary
Sue Coleman on Friday expressing
their frustration with the new poli-
cy in hopes that she can help them.
Rackham student Sirarat Sarn-
tivijai, president of the Thai Student
Association, said the state should
keep records of international people
in Michigan so it can check that
they're legal when they apply for
identification.
LSA junior Li Yu Tan, an inter-
national student, said the Uni-
versity already requires enough
background checks on international
students to satisfy the state.
"We go through many rounds of
screening and applications, and we
pay fees to come to this country to
study," Tan said. "We are not hold-
ing any threat. It's unfair. Why
shouldn't we be allowed to have a
driver's license?"
ENDOWMENT
From Page 1A
while the rest is reinvested as a
buffer against inflation. In addi-
tion, donors often earmark funds
for specific objectives, like profes-
sorships, scholarships or building
projects, meaning the money can't
be spent for other uses.
Senators Max Baucus (D-
Mont.) and Chuck Grassley (R-
Iowa), both members of the U.S.
Senate Committee on Finance,
recently sent letters with ques-
tionnaires to colleges with
endowments larger than $500
million asking them for informa-
tion about the colleges' payout
policies - especially how it is
used to fund student aid.
Because endowments receive
generous tax breaks, the senators
said they would like to see uni-
versities use endowment money
to provide affordable education to
low-income families.
"Tuition has gone up, college
presidents' salaries have gone
up, and endowments continue to
go up and up. We need to start
seeing tuition relief for families
go up just as fast," Grassley said
in a press release by the United
States Senate Committee on
Finance.
Timothy Slottow, the Univer-
sity's chief financial officer, said
the University plans to respond
to the questionnaire but hasn't
Monday, January 28, 2008 - 7A
received it yet.
Slottow attributed the Univer-
sity's 2007 endowment gains to
both University strategies and the
economy.
"The 25 percent return is one of
the highest ever, and it occurred
largely as a result of prudent
investment policies and last year's
surging market," Slottow said.
Endowments have become an
increasingly popular way of rais-
ing revenue among colleges.
Slottow said the University's
return has acted as a cushion in
times of market instability, like
the nation's recession in 2001 and
2002.
"In the down years, we have to
draw on funds conserved from the
more successful years," he said.
Former University President
James Duderstadt said in an e-
mail interview that endowments
are especially important to the
University because of its lack of
state government support. The
state of Michigan has cut fund-
ing to higher education more than
any other state over the past 10
years, according to Illinois State
University's Grapevine project,
which collects annual data ©n
state appropriations.
"The state of Michigan needs
(and deserves) a university much
better than it is willing to pay
for," Duderstadt . said. "Hence
UM must turn to its alumni and
friends to provide the support no
longer provided by the state."
WANT TO JOIN THE DAILY?
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the michigan daly
FALL RENTALS 1 bdrm. and effi- FALL '01
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NEW 6 BDRM., 4 br
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734-449-4797. 310 Beakes - $1,725
1407 Morton - $2,400
E CITY PROPERTIES FIVE BEDROOMS:
104 Prospect $3400 May
019 Packard $3200 Fall 205 N. Division - $2,95
108 Prospect $3600 Fall 704 Hill - $3,250
12 Packard $2400 May 816 Packard - $3,255
15 Greenwood $2500 May 1130 S. Forest - $3,145
ebsite for more houses & apts! 1302 S. Forest - $2,275
w.treecityproperties.com 1307 S. Forest- $2,450
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NEED AN ATTORNEY?
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Atty. Paul Tarnavsky @248-212-0239
or email: lamnavskylaw@yahoo.com
PRIVATE TUTORING FOR LSAT,
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SCOREKEEPER'S SPORTS
GRILL & Pub now hiring talented,
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ence necessary. Apply in person at 310
Maynard St., Ann Arbor. 734-995-0100.
EARN $800-$3200 A month to drive
brand new cars with ads placed on
them. www.AdCarClub.com
MEN AND WOMEN ages 20-30 and
65+, not married or living with a partner
for an hour-long interview on con-
sumer behavior. Compensation $20-$60
upon completion. Call (734) 763-0421.
PROFESSOR SEEKS DRIVER to
take daughter horseback tiding. Thurs.
afternoons at 3:00 & some other times.
$12/hr plus gas. sunstein@umich.edu
WOLVERINESNEEDJOBS.COM
Paid survey takers needed in A2.
100% FREE to join. Click on Surveys.
BUSINESS CAPITAL DIRECT look-
ing for on-campus sales rep. Earn thou-
sands, make your own hours. Contact
Daniel at 212-869-6000.
PAID LISTENERS NEEDED for
semester long study at Kresge Hearing
Research Institute. onsan@umich.edu
EXCEPTIONAL EGG DONORS
needed $8000-$15000 for qualified, re-
sponsible applicants. All ethnicities
welcome. Special need for Jewish,
Asian, East Indian donors. Close per-
sonal support by experienced donor.
Contact Dawn 951-696-7466.
FertilityAlternative.com/eggdonors
summer employme
CAMP COUNSELORS NEEDED for
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while working with children is the out-
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Apply os-line at
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CHILD CARE NEEDED for 2 hrs in
early am. 2-3 days/week. Responsible,
own trans., refrences. 734-769-1462.
LOOKING FOR LONG-term child
care for 1 yr. old in Hanburg, MI. Must
have experience and car. Please call
Erika at 810-333-2663.
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EGG DONATION
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or would like further information
please contacl Mitzi at 989-791-9712
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N WHITE MANAGEMENT
on Third Street!
edrooms, 1 bath and 4 parking
323 E. Jefferson - $4,250
1302 5. Forest - $3,833
TWELVE BEDROOMS:
328 E. William - $5,495
edroom, I bath and free laun- HOUSES (FROM 3 TO
ROOMS):
For Monday, Jan. 28, 2008
ARIES
(March 21 to April 19)
Give some attention to partners and
close friends today. The Moon is oppo-
site your sign, so you'll have to go more
than halfway when dealing with others.
It's just a fact of life.
TAURUS
(April 20to May 20)
Do something to get better organized
today. You also might give some thought
to how you can improve your health
through diet and exercise. (Just do one
tiny thing.)
GEMINI
(May 21 to June 20)
This is a playful, lighthearted day.
Enjoy fun times with others. Take some
time out to have a little pleasure. You
owe it to yourself.
CANCER
(June 21 to July 22)
Putter around your home today to stay
on top of things. Talk to family mem-
bers. You need to pull things together.
LEO
(July 23 to Aug. 22)
Get out and run some errands today.
Talk to siblings and acquaintances. If
you have to do business, try to do it in
the morning. The afternoon will just get
mushy and indecisive.
VIRGO
(Aug. 23 to Sept. 22)
You'll continue to focus on money
matters with bills and earnings today.
You might come up with some newmon-
eymaking ideas. Or better yet, come up
with ideas on how to cut down on your
cost of living.
LIBRA
(Sept. 23 to Oct. 22)'
Because the Moon is in your sign
today, you might feel a bit more emo-
tional than usual. However, it does tend
to attract some good luckto you. Bonus!
SCORPIO
(Oct. 23 to Nov. 21)
Try to work behind the scenes orwork
alone today if you can. (It's quite likely
that whatever you do, you won't get
credit for it.)
SAGITTARIUS
(Nov. 22 to Dec. 21)
Discussions with a female friend
could be significant today. Be ready to
lend someone a sympathetic ear. Perhaps
the situation is vice versa.
CAPRICORN
(Dec. 22 to Jan. 19)
You might do something inadvertently
to call attention to yourself today. Be
aware of this and of your actions and
your appearance. Don't speak without
thinking.
AQUARIUS
(Jan. 20to Feb. 18)
Try to do something different today.
Go someplace you've never been before.
Shake it up a little. You're bored, and
you want some adventure!
PISCES
(Feb. 19 to March 20)
This is an ideal day to tackle some red-
tape projects concerning insurance mat-
ters, debt and anything having to do with
taxes or inheritances. It's boring, but it
has tobe done.
YOU BORN TODAY You're strong-
willed and determined. Because of this,
you generally get what you want. You're
not afraid to tackle big projects that
might intimidate others. You like to plan
ahead, and this ability keeps you on
track to reaching your goals. Your year
ahead is pleasantly social. However, it
also involves a major choice or decision
on your part. Choose wisely.
Birthdate of: Elijah Wood, actor;
Jackson Pollock, artist; Sarah
McLachlan, singer,
lson White Management
734.995.9200 or
ilsonwhitemanagement.eom
NOW LEASING
rime Student Housing
761-8000
www.primesh.coin
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510 Miller - $1,655
716 W. Washington - $1,725
720 W. Washington - $1,550
337 Third - $2,100
210 Glen - $3,350
509 Detroit - $3,250
802 E. Kingsley - $3,675
1307 S. State - $5,500
Wilson White Management
734.995.9200 and
www.wilsonwhitemanagemnt.com
Call today to see your new home!
LARGE STUDIO- CENTRAL cam-
pus at Tower Plaza, farn. full kitch. 1
full bath. big closets, 24 hr. security &
ldry. facilities, $950-1000/mo. + elec.
Avail. 9/1/08. sale terms avail. Call Ely
at 248-227-0117 or etama@tbrepa.com
MAY 2008. 4 bdrm, 2 baths, parking,
washer/dryer. 1117 South Forest.
$2400/mo. Call 734-996-1991.
MAY-LEASES - Studio to 2 bdrm.
apts. on central or north campus. 741-
9300. annarborapartments.net
NEAR UNION SPACIOUS studio &
1 bdrms. 741-9300.
aannarborapartments.net
Efficiencies:
726 S. State- only I left!
610 S. Forest
344 S. Division
1 Bedrooms:
515 E. Lawrence-only 1 left!
326 E. Madison
511 E. Hoover
2 Bedrooms:
1330 N. University Ct.-only 1 left!
1021 Vaughn Street
411 High- only 1 left!
*Fully Furnished apartments
*Parking Included
*Free Ethernet
* Free heat and water
(* At most locations)
PART-TIME RESEARCH asst
needed for gait biomechanics research
20 hrs/wk at $10/hr. Duties include as-
sisting with data collections, data analy-
sis, and subject recruitment of stroke or
spinal cord injury patients. Contact
Catherine (kinnaird@umich.edu)
TEACHING ASSISTANTS
UM Northwood Community Child De-
velopment Center is seeking individu-
als to assist in our preschool classes be-
tween the hours of 10:30 am D 5:30
pm. Experience working with young
children preferred. Please call
764-4557 for more information or
email resume and availability to
hermansl@umich.edu
I 7 1
APTS., SUBLETS, & Rmmte(s). List
and Browse FREE! All Cities & Areas.
1-877-367-7368 or www.sublet.com
C 2008 King Features Syndicate, Inc.
FEMALE SUBLETTERS NEEDED!
701 S.Forest by South U. Compromise
Rent! 7 singles avail. or 3rd fl. dbl. w/
own living rm & kitch! All util. & ldry.
incl. & prkg. avail! 248-515-5792.
UNDERCOVER SHOPPERS
Earn up to $150 per day. Under cover
shoppers needed to judge retail and
dining establishments. Exp. Not req.
Call 800-722-4791.
f