Some Lansing Community College students are borrowing their way through school

By Haywood Liggett
Listen Up, Lansing Staff Reporter

Some students at Lansing Community College are relying solely on student loans to pay for their tuition. Shane Harris, who attended Lansing Community College for three years from 2011-2014, used student loans to pay for all of his classes. He acquired $6,000 worth of debt during his tenure. If Harris had only taken out the exact loans that were needed to pay for all his classes, he would only be around $5,000 in the hole. “Instead of taking that small refund each semester from excess loans and paying it back immediately, I would put it towards things like clothes and shoes,” Harris said.

Low-interest energy loan program expands statewide

Capital News Service
LANSING – Local businesses looking to save on energy costs have an opportunity for low-interest loans through an expanded statewide energy financing program. This initiative comes from Michigan Saves Inc., a nonprofit organization helping businesses to lower their expenses and improve their energy efficiency. The organization previously provided loan support to businesses around the Detroit area and is now extending their activities statewide. Julie Metty Bennett, executive director of the organization, said the program provides low-interest loans for energy-efficient lighting, heating and cooling systems, insulation, refrigeration, equipment and more. “A lot of the time, operation costs for businesses are much higher than they should be.

Pay As You Earn

President Obama recently signed a law to help college students pay off their student loans.  The Pay As You Earn proposal reduces the monthly loan repayment rate to 10 percent of an individual’s income and forgives all remaining debt after 20 years. The new proposal is an improvement from the previous student loan plan that had a loan repayment rate of 15 percent and forgave remaining debt after 25 years. Graduates must update their income every year through IRS tax forms or other credible documentation in order to maintain the new repayment rates. Graduates don’t have to choose the Pay As You Earn plan after graduating, but can instead start with a different repayment plan and switch between plans as they please.