Word: interests
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Dates: during 1960-1969
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Since the program began in 1965, banks have lent $1.4 billion to 1,600,000 students, with the Government paying the interest until after graduation. The trouble is that the interest rate paid by the Government has remained at 7% while the prime lending rate has climbed to 8.5%. As a consequence, some lending institutions have withdrawn from the program entirely and others have restricted new loans to students with whom they were already doing business...
...bill that would allow HEW Secretary Robert Finch to increase the interest ceiling on student loans to 10% has been passed by the Senate, but a similar bill has been stalled in the House by the threat of amendments aimed at curbing student disorders...
...plaintiff yearns for revenge. But what if he is poor, confined to a wheelchair and has no law degree? Despite those handicaps, a Chicago polio victim named Sherman Skolnick fought back so hard that last month two members of the Illinois Supreme Court resigned amid charges of conflict of interest brought by him. Moreover, the revelations about those judges -Chief Justice Roy Solfisburg and Associate Justice Ray Klingbiel-have inspired a committee of the state legislature to embark forthwith on a "top-to-bottom inquiry into the entire judiciary in Illinois...
...most important harbinger of gains against inflation was an easing of the high interest rates that have been increasingly pinching borrowers this year. The decline reflected a drop in corporate demand for loans to finance expansion and inventory accumulation, which in turn appeared to reflect a lessening of the inflationary psychology that has caused businessmen to borrow in anticipation of ever-rising costs and prices...
Cheaper at Auction. The interest declines were small but widespread. Rates on bankers' acceptances-corporate promissory notes issued to finance goods in transit or storage with payment guaranteed by a bank-fell by ¼% to 8%. In the bond market, Treasury bills sold at an average 6.86%, down from a peak of 7.22% last month. Pacific Northwest Bell Telephone sold $75 million in debentures at 7¾% compared with a 7.9% rate on the last Bell System bond offering in July...