Word: gsls
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Dates: during 1980-1989
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...Individual Retirement Account model.He has also advocated selective aid to collegesand universities to support their research, and,along the lines suggested in the FridayCommission's Report, says that the federalgovernment must further enlist universities tohelp restore American competitiveness. Although hesays he supports continued funding for the PellGrant progam and GSLs, he says they must betargeted to those who need them most...
Under the Bennett plan, schools at which more than 20 percent of those students with GSLs fail to repay their debts will lose access to all federal financial aid programs, including Pell grants and College Work-Study. The plan, which does not need Congressional approval, will impose its first cuts in 1989, the Secretary said...
...Administration hopes to make these cuts palatable by seeming to liberalize the federal Guaranteed Student Loan (GSL) program, but the package of proposed changes in GSLs would only exacerbate the problem of student indebtedness. Reagan's budget would increase the loan ceiling to $50,000 and to adjust repayment of loans to income levels. However, students would also have to borrow money at market rates and to begin paying interest as soon as they take out loans, instead of being forgiven interest until graduation. The bottom line is that students will graduate much further in debt. Even adjusting repayment...
Currently, two-thirds of the Harvard student body receives financial aid. This amounts to 2751 students who receive GSLs and 680 who receive Pell Grants...
...default rate has remained steady over recent years, Hastings said, but because about $7 billion is loaned each year the gross amount of unpaid loans rises by about $700 million yearly. Total debts have risen recently because of an increase in GSLs distributed between...