Thursday, May 16, 2013 The Michigan Daily - michigandaily.com Thursday, May 16, 2013 The Michigan Daily - michigandaily.com '3 DEBT From Page 1 (debt) is in federal loans," Grimes said. The role of private banks in student loans was diminished with the Federal Direct Loan Program, instituted in 2010, which offers the largest source of college financial assistance in the country through its programs. However, while the majority of students receive loans through public sources, the CFPB report cites that 81 percent of borrowers graduating with $40,000 or more in debt had private loans. According to the University's financial aid website, providers such as PNC Bank, Wells Fargo and Sallie Mae granted 10 or more loans to University students in the 2011-2012 year. For students who have completed a Free Application for Federal Student Aid, federal loans are awarded based on need, while private loans require separate applications and are more dependent on credit, usually that of a co-signer or parent. Grimes added that the govern- ment should avoid an interest rate increase - a hotly contested issue in Congress right now, as the interest rate on federal student loans are scheduled to double from 3.4 percent to 6.8 percent on July 1 -and should be aware of the overhang of the amount of debt on students and consider restructuring the way in which they decide who to grant loans to. Under the currentsystem, some borrowers are eligible to receive RELEASE DATE- Thursday, May 16, 2013 Los Angeles Times Daily Crossword Puzzle Edited by Rich Norris and Joyce Nichols Lewis ACROSS 4"EastEnders" 41 Soapstone, 54 What 1 Big head airer mostly dispensaries 4 Fancydance 5Sheikdom in a 42 Place for dispense 8 Bad hair day jazz standard stragglers 55 Sean whou played feature 6 WII Air Fuce 47 Rte for manya a hobb py 13 Hauler's unit general Curtis,_ red-eye 56 Has status 14 Beatnik'sdough 7 Minestrone server 49 Handwoven 57 ELO relative? 16 French name B Gaill on a stuve tag 58 Paretsky who meaning "born 9 Blues-rocker 51 Vile writes V. again" Chins 52 Fomer member Warshawski 17 Dayofromsch. 10Befwords? of Ber lsh band detcvenovels 18 Where Cal 11 Heart of a London Clannad 59Think ahead Ripken's puzzle? 53 Old Dodge 63 Trunk over nsecuive w 2Joe de vre compacts 64 Blokes game s record mansf1i Wooded vle nt ton of vle ANSWER TO PREVIOUS PUZZLE: 20 Brief mea culpa Cambodia A E P U : 22 Candidate list 21 NYC's J E W E L A F E W P A A R 23Repairquote: Hammaskild ORALS V I V A L O D E Abbr. 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STERLING 411 LOFTS has limited P K Nsummer only bed spaces avail. starting at $500 all inclusive. Lease dates are May 3rd August 13th, 2013. 2 blk. from Central Campus and downtown. 734-998-4400 www.4elevenlofts.com 2013-14 PARKING FOR SALE *nreat LocationsWANTED HEPCentral Campus *Great Rates________________ 734-761-8 00 www.primesh.com SUMMER PARKING BEHIND 420 Maynard St. $100/Mo. FLUENT IN UKRAINIAN or Rus- Call 734-418-4115 ext. 1246 sian? Pittsfield Charter Township is seeking volunteers to assist us with "PRIME" PARKING FOR SALE translating for a delegation of 2013-14 Ukrainian govt. officials during Great Locations: evening and weekend events for 721 S. Forest $1500 the period of June 2nd through June 1320 k. University $500 8tb. Volunteers will join us for meals 520 Packard $960 and cultural outings. Interested 515 E. Lawrence $720 persons should contact Lyn Badala- 511 Hoover $720 menti at 734-822-3122 or badalamen- Parking for less than the rest! til pittsfield-mi.gov Call 734-761-8000 more loans than they can realisti- cally afford to pay back. In 2008, 10 percent of private student loan recipients devoted more than 25 percent of their income to meet student loan repayment obliga- tions, a figure which, according to the CFPB report, is presumed to have grown in recent years. Grimes said the issue of student debt requires quick action by Congress and should be addressed simultaneously with the management of interest rate levels. "That would be a good vehicle to sort of move this whole discus- sion forward about the student loan debt, what the appropriate role is, how much of a burden stu- dents should be expected to bear and what sort of risk tolerance the government should bear over the longer term," he said. The CFPB report calls for affordable restructuring of loans, borrower transparency, loss- sharing for loan defaults and repair of a borrower's credit pro- file in cases of default. While the report acknowledges the variety of obstacles in the way of creating an affordable student loan system, it aims to "help policymakers as they consider the best ways to facilitate the viability and economic participation of consumers facing heavy student debt burdens." Grimes said student debt will continue to be a major national issue until a sustainable, reasonable solution is set in place. "Right now, we've got an open- ended spigot in terms of grant- ing these loans, both in terms of the colleges and universities that qualify and the amount of money that's going to these students." KATIE BURKE ERIC FERGUSON EDITOR IN CHIEF EDITORIAL PAGE EDITOR Edited and managed by students at the University of Michigan since 1890. 420 MaynardSt. Ann Arbor, MI 48109 tothedaily@michigandaily.com Unsigned editorials reflect the official position of the Daily's editorial board. All other signed articles and illustrations represent solely the views of their authors. Redeveloping Detroit Balancing the books is just the beginning n Monday, Kevyn Orr, emergency financial manager for the city of Detroit, released his 45 day report assessing the city's finances along with a list of suggestions to help the city find solvency. Unsurprisingly, Orr found massive flaws in the city's management of funds and services. His report indicates that he is prepared to take serious action in pursuit of Detroit's long term fiscal solvency, suggesting major restructuring of police, fire and public transportation, the privatization of public lighting services and the possibility of cutting pensions for retired city employees. Orr is taking necessary action to help the city begin its long road to financial recovery, but his efforts as emergency manager can only affect the city's bottom line. In order for Detroit to make a true recovery, the state must realize that short-term fiscal solvency won't necessarily lead to the growth and stability that the city needs. ELLIOT ALPERN MANAGING EDITOR MEGAN MCDONALD| Ditchin Middle school was awful. Those three years of my existence were filled with awkwardness and self-pity that, looking back, makes me cringe. Teenage acne, braces, glasses and struggling with my weight - I was the stereotypical middle school "outcast". Fitting in wasn't easy - the best I could do was try to blend into the background and avoid unwanted attention. But kids were cruel. The popular girls and boys preyed upon whomever they thought was a "loser" by checking if you had the stamps of approval - Abercrombie, Hollister or Aeropostale. Before the recent controversy over Abercrombie and Fitch, I knew there was something sinister about the brand - stout eight grade Megan knew something was amiss about their sizes. I remember shopping for school clothes with my mom and begging to go shopping at Abercrombie. However, nothing ever fit quite right. I could feel my self-confidence withering away as I tried to squeeze into a pair of jeans. Abercrombie - with all its beautiful, toned models and tailored clothes - subtlety relayed the brutal Mean Girls message that I wasn't "cool enough" to wear their clothes. I shouldn't have been ashamed that I couldn't fit into their generic, branded clothing. But try telling that to a young girl trying so desperately to fit in. Eventually, I came to the realization that it's not the label on the pants ig Fitch University of Michigan Ck that defines you. Over the last week, a 2006 Salon interview with Mike Jeffries, the CEO of Abercrombie & Fitch, went viral. The interview features Jeffries addressing the very thoughts I had as a pudgy middle schooler with a few friends. "In every school there are the cool and popular kids, and then there are the not- so-cool kids. Candidly, we go after the cool kids ... A lot of people don't belong (in our clothes), and they can't belong." It may seem silly now, but back then wearing a moose or seagull emblem was a way to simply fit in, to gain friends in a hostile environment. Was because I couldn't fit into a specific brand of t-shirt or jeans a reason I wasn't worthy enough to belong? Personally, I've stayed away from any clothing from Abercrombie and the like, but calling for a boycott of one clothing company is only a quick fix. While the reactions to Jeffries' interview have certainly hurt his company, the interview provides insight to the warped view of Americans when it comes to body image and self-worth. According to the National Eating Disorders Association, 20 million women and 10 million men have an eating disorder at some time in their life. Companies like Abercrombie and Fitch have made a fortune off of depleting self- worth - the dieting industry is worth $40 billion dollars a year. Since it's deplorable to think that others are getting rich off of ass of2013 others' insecurities, we have to address the core of the problem - why do these insecurities exist and what can we do to get rid of them? I'm not arguing that one shouldn't strive to improve one's health, but the motivation to lose weight or eat health- ier foods shouldn't come from a Botox- infused CEO. I've learned that self- worth isn't attached Ross to your pant, dress or shirt size. That's the message we should g achievement! be sending to young )uder. middle schoolers and everyone else who struggles with their body images. It's not the clothes, hair, make-up or shoes, but the person with- With 0al otur love, in them that matters. Mom & David Megan McDonald is an LSA sophomore. !NORTH CAMPUS 1-2 Bdrm.! ! Riverfront/Heat/Water/Parking. ! ! www.HRPAA.com 996-4992! ARBOR PROPERTIES Award-Winning Rentals in Kerrytown, Central Campus, Old West Side, Burns Park. NowsRenting for 2013. 734-994-3157. www.arborprops.com CENTRAL CAMPUS, FURNISHED rooms for students, shared kitch.,ldry., bulb., inlenet, sammer from $356, fall from $500. Call 734-276-0886. 'STERLING 411 LOFTS - Tbe first 16 people to sign will receive $1,000. Reserve your 2013-14 bed space at U- M's Best housing. Sold out early for the last 3 yr(s). 2 blk. from Central Campus and downtown. I - 4 hdrm apL with May to May or August to Au- gust lease terms avail. Rmmte match- ing, prkg and private baths available. Rates starting at $675. 734-998-4400 www.4elevenlofts.com NORTH CAMPUS 1-2 Bdrm. ! Riverfront/Heat/Water/Parking. ! ! www.HRPAA.com 996-4992! HANDY PERSON NEEDED. Experi- ence preffered but not necessary. Please email DFBemail@gmail.com HIRING DELIVERY DRIVERS Must have vehicle & valid license/proofof insurance. Flexible schedules, competitive pay, employee meals. Call Pita Pit at 734-213-7482 615 East University PERSONAL/HOUSEHOLD ASSIS- TANT WANTED for a busy professional. Please email resume to DFBemail@gnmail.com ANNOUNCEMENT I, SOMESH RAHUL, holder of In- dian Passport number 16879359, issued at Lucknow, penmanent resident of Luc- know, India, and presently residing at Ann Arbor, Michigan, USA do hereby change my name from (Given name) Somesh Rahul Ito (First name) Somesh (Last name) Rahul. Objections, if any, may be conveyed to the Embassy/Con- sulate General of India, Chicago, Illi- nois within 30 days from this date of advertisement. Given Orr's track record in handling bankruptcies, there's no doubt he can put the city's finances in order again. However, a number of his suggestions for saving money could be potentially disastrous to thousands of Detroit resi- dents, harming economic recovery in the name of fiscal responsibility. Cut- ting pensions to retirees is a perfect example - the city's pension funds are certainly a mess financial- ly - but the sheer number of people who would be hurt by this measure could very well end up doing more harm than good. The same goes for the restruc- turing of public services like lighting, transporta- tion and police. Kevyn Orr's very position as emergency manager is the topic of much debate. However, whether or not the job Orr holds is legitimate is not at issue here - the state appointed him and he is doing his job, regardless of who agreed or disagreed with his appointment. Moreover, the state has a role to play in the city of Detroit's restructuring and management even after Orr's term has expired. The city simply doesn't have the resources to function without some kind of external aid. In the future, the state must take an active role in promoting regional partnerships and subsidize projects that will improve Detroit, and by extension the entire state of Michigan. Earlier this year, the Detroit Works Project pre- sented a long term mas- ter plan called the Detroit Future City Strategic Framework. This plan includes major changes in how city services are structured in order to save money and make serious improvements to public safety, transportation and blight. Though this plan certainly has its flaws, and many groups in the city dis- agree with its principles, it's an idea that could radically improve the city's image and the lives of residents. Along with its attention to fiscal solvency, the state must promote and develop ideas like the Future City plan in order to truly grow Detroit and prepare the city for the future. Rachel Ellen I Congratulations on your amazin We couldn't be any pro I