Word: loan
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Dates: during 1950-1959
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Dean Kerby-Miller also revealed that scholarship loan funds received by the Annex under the 1958 National Defense Education Act are being used this term only for prospective teachers. The act provides special benefits for this group of borrowers by reducing total long-term payments of half the initial amount loaned...
...National Defense Student Loan Program provides American colleges and universities with a "remarkable opportunity" to increase their financial aid resources, Dean Monro said recently in the winter issue of the College Board Review. Before the new plan is fully effective, however, college communities must solve two formidable problems, Monro pointed...
Under the Program, established by the National Defense Education Act of 1958, colleges will be able to institute substantial student loan funds with liberal repayment terms and low interest rates. Authorized appropriations for the loans began this year with $47.5 million and will reach a high of $90 million...
Monro praised the plan, explaining that it should increase flexibility in student aid programs and develop loan credit as an accepted element of college finances...
McDonald noted that the Loan Act specifies some preference for students who intend to teach in secondary schools or who have especially strong preparation in science, mathematics, engineering, or a modern foreign language...