University of Michigan Law School University of Michigan Law School Scholarship Repository Res Gestae Law School History and Publications 1990 Vol. 40, No. 21, November 14, 1990 University of Michigan Law School Follow this and additional works at: http://repository.law.umich.edu/res_gestae Part of the Legal Education Commons Recommended Citation University of Michigan Law School, "Vol. 40, No. 21, November 14, 1990" (1990). Res Gestae. Paper 235. http://repository.law.umich.edu/res_gestae/235 This Article is brought to you for free and open access by the Law School History and Publications at University of Michigan Law School Scholarship Repository. It has been accepted for inclusion in Res Gestae by an authorized administrator of University of Michigan Law School Scholarship Repository. For more information, please contact [email protected]. All the news that fits, we print. estae Vol. 40 No. 21 The University of Michigan Law School November 14, 1990 Debt Management Program Explained By Mark Phillis cantly below the average salary.for !their) repayment obligations. In addition. one­ not include undergraduate loans. She •J can't afford to take a public interest graduating class.· 1990 graduates whose third of the loan they received duting the provided a 1989 survey from the National job: I have to work for a flrm to repay my adjusted gross income (including the value first year is forgiven. Those graduates who Association for Public Interest Law (NAPIL). loans.· ofemployer-p aid benefits) Is under $33.000 remain eligible then receive a direct grant which appeared to support her assertions. The figures, at first glance, seem to would qualify, wtth the exception of judi- during their third and fourth year. At the although she admitted that some of the confirm this sentiment. By the ttme they cial clerks, whose clerking Ume}e~e- completion of their fourth year in the pro­ See Debt, Page Four graduate, many students will have incurred less may count toward the year~t/yfd gram. the enUre first-year loan is forgiven. debts from law school and undergraduate for debt forgiveness. The income ca-?'¥ ·/ ~rUcipants who leave the program before schools in excess of$35,000. Faced wtth creases by $10.000 for~a~use ~-d('~()()()" .., th.l;"'t.M of their fourth year are obligated to Project Shelter loan repayments of over $300 a month. for each dependent ch . a~ft?be repay the ~forgiven portion of their loan students may feel that accepting a job adjusted for geographic r othiiJ a},_a 7% annu~ Interest rate. Graduates Dinner paying on1y $23,000 a year is out of the special circumstances. ~ ~Jemain in the program for up to ten Special to the Res Gestae question. Applicants must repay a pt,rt f ~li;ars, provided that they are financially Are you frustrated? Fatigued? Feel­ The faculty, administration, and their need-based undergraduate an ~w le. ing as though the only pick-me-up that alumn1 of the law school have recogniZed school loans. based on their adjusted gross Michigan's Program might get you moving involves six pall­ that these financial constraints may pre­ Income (AGI). For example, people whose :r.•Compare? bearers? vent students from pursuing "alternative· AGI Is $23,000 would be expected to repay Ka ~rine Gottschalk. Director of Fi- Project Sheller has a plan that could careers. To address this problem. the law the first $1000 of their loans each year. nanclal AJd at the law school. said she inject some ttmely feeling into your ltfe. school initiated a debt management pro­ The debt management program would then believes that Michigan's program compares Law students are invited to help provide gram in 1987. During its flTht year of provide the participants with funds to pay very favorably wtth those at other law a Thanksgiving dinnerfor the needy. The operation, six graduates participated In their remaining obligations. Thus. If the schools. She said the program hru; been dinner will be held Tuesday, November the program. By last year, that number participants' annual repayment obligation able to consider applicants' debts from 20, at the Ann Arbor Community Center. had increased to 22. To date, the law is $4000. they would be eligible to receive Supplemental Student Loans (SLS). Law Those partlcipaling would dedicate a school has been able to fund all eligible $3000. Access and Law Loans programs, even small amount of Urn e. perhaps from 5-7 applicants. During their first year in the program, though the debt management program Is p.m. Students may acquire more infor­ How does the Program Work? participan ts receive these funds in the only committed to provide assistance for mation by pendaflexing or calling Don Graduates may participate in the pro­ form of a zero-interest loan. During their need-based loans. Calder (2L. 662-8705). Melissa Mulkln gram if they are "employed full-ttme in law­ second year In the program. they receive a Programs at other schools, Gottschalk (lL, 998-0815). or Marta Balboa (lL. 996- related work" and their "income is slgnifi- direct grant for the amount of their eligible said, cover only need-based loans. and do 80). Sports Agent talks about his 'Sleazoid Profession' By James S. Johnson landofwhatDavldLetterman calls"Canseco switch to Room 100 (perhaps forgetting way. They had been rescued by the other At 4 p.m. on Friday afternoon approx:l- dollars.· Some were there because the momentatilythat that room Is now referred leather jacket, Jason Ph1lllps (also a De­ mately 250 people found themselves walt- Michigan Dally had announced that a client to as Honigman Auditorium) so that there troit Lion, and also a client of Steinberg's). lng in room 150. Some had come to hear of Steinberg's, Detroit Lion Quarterback would be room for all. Those standing In Introductory comments aside, Stein­ sports agent Leigh Steinberg talk about Andre Ware, would be there. the back voted to move. but they were berg began his talk in earnest. He spoke of negotiating some of the biggest contracts In At 4: 15 they were still waiting. Profes­ shouted down by people in the front who how he got into the business. he told sto­ thehistoryofsport. Some had come to gain sor Beverley Pooley went to the front of the thought things were fine just the way they ries of what It was like to tell people that 10 an Insight into how they too could enter the room and asked If people would like to were. million dollars just Isn't enough for his --- At 4:30 three men who easily could clients ("Thank God Pinochlo Is only in the have been mistaken for members of the cartoons!" is how he put It). he spoke of how audience walked into the room. Two wore unfairly professional sports deal with their leather jackets; the other looked like the players. But mostly. he spoke about how prototypical law review student - khaki each Individual should work to make a pants and button-down shirt with an open difference in the world. collar and rolled-up sleeves remlnlscent of Steinberg said his entry into sports Bobby Kennedy. agency was accidental. He was going to law They were not mistaken for members school at the Uruverslty of Caltfomla at of the audience. however, and the crowd Berkeley in the mid '70's, workJng as a parted to let them through. The two leather dorm advisor. One of the students in his Jackets sat down. and the button-down dorm was Steve BartkowskJ, who was then collar took the dlas wtth Dean Pooley. The Cal's quarterback. When BartkowskJ was button-down collar was none other than selected in Pro football's draft. he asked Leigh Steinberg. Steinberg to be his agent. Steinberg nego­ Dean Pooley introduced Steinberg In tiated what at that time was the largest typical Pooleyesque fashion - he said that rookJe contract in history ($600,000 over 4 all those who had not heard of Steinberg years). must either be "irogloclytes or members of Since that time. Steinberg said, his one secluded religious communities." O'roglo­ requirement for his clients Is that they give dytes are prehistoric cave people). something back to the communities from Steinberg first explained his tardi­ which they came. Some of his clients have ness. It seems that it was Andre Ware's job set up scholarship funds at their high schools and colleges. For others It Is work- Steinberg laughs when a student asks Steinberg to autograph his "Agent to drive him to the law school. but that Ware's car had broken down on the high- See Steinberg, Page Four Orange Law'' textbook on Friday afternoon. The a. Geetae -· Jfcrrember 14, 1990 ·· pate two f:dtiDr In a.j: J a- I . Joluo.ooD .w~ Fdua: etoft CIIUk F..uwa EdUcr: Alldtcw lf&Dltaky L4w en rJw Raw: tteplaule oau. caU.erlAe Welth aDAl laJa Wlaotakq Sltlff: ... Adclau. ADtlMolr a.~-.~~n~ca a.-. Marl< BlaDdlud. ,_,....... Dlaue carter, Clllp CoL &Milieu Daria, ctiAtOD !lllot, J etr Ooclehcr, Fellee Uuc. IIJeA Maru. Maiii'OtD lleADAlrftr. Chrb KeG~. Pete Koooq, Job <>ll!f'k. hake Puk. 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