Word: loan
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Dates: during 1960-1969
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...system replaces the old National Defense Education Act loan program under which the government provided loans through individual colleges. Now students will arrange loans through banks, with state authorities or authorized private companies guaranteeing the loans...
...past few weeks, college officials have voiced concern that the new program will not be ready by this Fall because of financial and administrative obstacles. An Atlanta meeting of Southern college scholarship officials, for example, last week urged the continuation of the current NDEA loan program for at least another year...
...White House conference came up with several possibilities for temporary solutions to these problems, all of them variations on the guaranteed loan concept rather than extensions of the NDEA system...
...proposals include temporary state loan authorities and combinations of several banks as loan sources. The federal government was suggested as a temporary guarantor; it is now empowered to guarantee loans only if state credit is inadequate. All of the meeting's proposals were tentative, and are now being studied privately...
Other problems still to be ironed out in the new loan program as it currently stands include...