Word: loan
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...present, there are three different ways a college student can borrow money. At Harvard, for example, a student can obtain a loan directly from the University, from the University's supply of federal National Defense Education Act (NDEA) funds, or through the Guaranteed Insured Loan Plan (GILP...
...plan were instituted there would be one other major change from present college-loan plans besides the flexible repayment scheme. The panel would like to make loans available to every student without regard to his family's income. Current loan plans require a student to show that his family's income is below a certain level in order to qualify...
Gleason said that the amount of money any student could receive would depend on the costs of his particular college. The maximum loan would probably equal the cost of tuition, room, board, and other expenses, Gleason said...
...phase out the NDEA plan and to replace it with GILP. Under GILP, students borrow money directly from banks; under NDEA they borrow funds from the federal government which were channeled through the college. To increase the banks' willingness to cooperate with GILP, the federal government guarantees each loan and pays part of the interest for borrowers whose families earn less than $15,000 per year...
GILP, its critics argued, placed the student who needed a loan at the mercy of his banker. Even though the government would guarantee the loan, no lending institution would be required to participate, and there was fear that the new plan might seriously victimize Negroes in the South. Furthermore, restrictive monetary practices by the federal government could also have a substantial effect on the national money market -- and therefore the student's chances for obtaining a loan...