Word: loan
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Dates: during 1950-1959
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Harvard's President Nathan M. Pusey called it "misguided, discriminatory, superfluous, ineffective, futile." Yale's President A. Whitney Griswold forcefully agreed; so did Oberlin College's President William E. Stevenson. Object of their ire: the "disclaimer affidavit" in the loyalty provision of the federal Student Loan Program. Last week, joining at least 13 other colleges and universities, Harvard, Yale and Oberlin quit the loan program. Between them, they turned back about $476,000 in federal funds...
School authorities pointed out that faculty salaries must be increased and rising dining hall and dormitory expenses must be met. A "corresponding rise in student scholarships and loan funds will accompany the tuition increase," one said...
...Anderson sponsored a proposal to increase World Bank funds by doubling the member nations' commitments to guarantee World Bank bonds. At the same meeting, Anderson unwrapped a U.S. plan to set up an International Development Association (with the U.S. contributing one-third of the capital) to make loans that, unlike World Bank loans, would be repayable in the borrowing country's own currency, no matter how soft. At the World Bank-International Monetary Fund meeting in Washington in late September, Anderson pushed the plan, won over the World Bank's soft-loan-mistrusting board of governors...
...remind Western Europe and Japan that the Marshall Plan days were long since over, Anderson last month took the dust-stirring step of announcing that henceforth dollars lent to underdeveloped countries by the U.S.'s own Development Loan Fund (outgo: about $550 million a year) must be spent in the U.S. Protests rang out that Anderson was dragging the U.S. backward with a protectionist "Buy American" program (TIME, Nov. 9). But Anderson's essential purpose was to force Western Europe and Japan into providing loans to finance their own exports to underdeveloped countries. He would be happy...
HANOVER, N.H., Nov. 18--Dartmouth College President John Sloan Dickey today called the NDEA student loan program's loyalty oath provisions "unwise and ineffective...