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SIUC student loan default rates lower than national SARAH SCHNEIDER Daily Egyptian
Nationally, two out of every three graduates have an average of $24,000 in student loan debt. Athena Ross, a junior from Chicago studying chemistry, said having a degree is almost a requirement in most fields but students have to first find a job to begin repaying their debt. “The best place to be right now is jail,� she said with a laugh. “You get free bedding, room and board, food, friends, you get a degree, you don’t pay taxes. I think I might commit a crime and go there.� In fiscal year 2009, 8.8 percent of borrowers defaulted on student loans nationally. Public institution default rates have increased to 7.2 percent, up from 6 percent, according to the FY 2009 national student loan cohort default rates released Sept. 12 from the U.S. Department of Education. Terri Harfst, director of the financial aid office, said 5.2 percent of students at the university who took out loans in FY 2009 defaulted on their loans. These debts are from when borrowers had to pay between Oct. 2008 and Sept. 2009. According to the U.S. Department of Education 3.6 million borrowers entered repayment during this time and 320,000 defaulted. If a student does not make a payment within 270 days, the loan is considered in default and the consequences can be detrimental to the borrower. Harfst said consequences could include garnished wages, damaged credit
ratings, low credit score, additional charges, late fees, collection costs and lawsuits. Last year student loan debt outpaced credit card debt for the first time, according to an article in the New York Times, and is estimated to top a trillion dollars this year. Lisa Brock, a senior from Chicago studying public relations, said when she graduates in May she will have around $20,000 in student loan debt. She said with the troubled economy it may not be easy to get a job. For Federal Stafford Loans, the borrower has six months until they have to begin payment and for Federal Perkins Loans the borrower has nine months. Harfst said about 54 percent of undergraduate and graduate students at SIUC receive either of these student loans. Ross said six months is an extreme expectation for students to get a job and begin paying. “It depends on your career, I guess. People that want to be artists and stuff, that takes time,� she said. “You have to feed yourself and pay bills. You can’t do that on top of paying Sallie Mae.� Student loan debt has increased by 511 percent since 1999 according to the New York Federal Reserve data for household debt. In the first quarter of 1999, student loan debt was at $90 billion and in the second quarter of 2011 outstanding student loan debt stood at $550 billion.
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Chuck Stuhrenberg, owner and brewmaster of Big Muddy Brewing, collects yeast during a brew session Wednesday in his Murphysboro brewhouse. Stuhrenberg said he has had to expand his operation to meet the area’s demand for craft beer. During Tuesday’s Carbondale City Council meeting, the council approved a motion to allow microbreweries, microdistilleries and wineries in agricultural districts of Carbondale. Stuhrenberg, who owns the area’s only microbrewery, said he hopes to see more open in response to the council’s decision. ISAAC SMITH DAILY EGYPTIAN
Beers, spirits do well in dry economy Council paves way for more breweries, distilleries ELI MILEUR Daily Egyptian
Please see DEFAULT | 7
JUSTIN SKARIN | DAILY EGYPTIAN
A new industry is brewing in Southern Illinois: craft alcohols. “Right now we’re at a grassroots level of the next big industry,� said Shawn Connelly, local beer expert and craft-beer blogger at The Beer Philosopher. “People are interested in a craft product.� The only microbrewery in the area is Big Muddy Brewing in Murphysboro, but Connelly said there are several more in early stages of development. He said he doesn’t know why, but the alcohol industry seems to be recessionproof. The Carbondale City Council recently voted to include microbreweries and microdistilleries as special-use establishments in agricultural zones. Council member Jane Adams said several entrepreneurs have expressed interest in brewing or distilling in Carbondale. “One of the remarkable things is, in this period of recession, we have an industry growing here,� Adams said. Chuck Stuhrenberg, owner of Big Muddy Brewing, said the demand for his beer has surpassed his ability to produce it. “It amazes me how much beer people drink,� he said. Big Muddy recently expanded to produce more beer, and Stuhrenberg said he plans on further additions. The company currently brews four different beers. He said he hopes
to add a vanilla stout to the lineup in time for Christmas. “I found out you have to sell a lot of beer before you become profitable,� Stuhrenberg said. He said starting the brewery about two years ago required a large initial investment, but he learned the trade by home brewing as an SIUC undergraduate in the 1980s. Starting a microbrewery is a daunting process both financially and legally, said Marika Josephson, vice president of Southern Illinois Brewers, an organization of about 90 area home brewers. She said she, SIB President Ryan Tockstein and a third partner plan to open a microbrewery of their own. Josephson said the licensing can take months to complete, during which they must have an address for the brewery. She said one way to make money in the meantime is to serve food or make soda with the brewing equipment, which they plan to do. “Brew pubs, which are restaurants that make beer on-site, can draw in tourists like wineries do,� Connelly said. The region has the potential to draw in tourists like the Shawnee Hills Wine Trail has, said Matt McCarroll, associate professor of chemistry and owner of Windy Hill Hop Farm, located south of Murphysboro. “I like to think we’ll have a beer path along with the wine trail,� McCarroll said. McCarroll planted his hops, a key ingredient in beer, during the ’09-’10 winter. He said he came up with the idea while cleaning up his farm after the May 8, 2009 storm and decided it would be a way to put his property to use. Please see MICROBREW | 7