Word: loan
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Dates: during 1970-1979
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...area that Congress cut in this year's budget and one that might decline or even disappear in future years is the National Direct Student Loan program (NDSL), an alternative that offers students loans at 3 per cent interest, as opposed to the 7 per cent Harvard charges on its own loans. Across the nation, NDSL has been plagued by students defaulting on their loans, and Congress dislikes the program. Nor did a 60 Minutes expose of the NDSL's problems in the fall help its reputation. Next year, Harvard will receive $440,000 in NDSL funds, 26 per cent...
Lyman says that "most students don't even know what kind of loan they have," adding that she has actually had to recruit people to take the NDSL...
Within the framework of its financial aid operations, Harvard operates the Parent Loan Plan (PLP), begun with the Class of '80 which helps students with family incomes ranging from $15,000 to $50,000. The plan uses a variety of loans, grants and student work opportunities to allow parents to pay off their debts to Harvard in eight years of monthly installments. Administrators say the plan has increased the yield--the number of accepted students who actually attend--of middle-income students. Before the PLP the yield among students in this range was about ten percentage points lower than other...
While recuperating from an operation for prostate cancer, a middle-aged Chicago machinist learns that a loan company is inquiring among his neighbors whether he can ever work again. In Hartford, Conn., a recent college graduate hears that she has been rejected for a teaching job by a private school because it has somehow found out that her mother is under psychiatric care. In New York City, women who have registered for abortions at a private clinic are besieged by phone calls from right-to-life advocates trying to dissuade them...
...potentially damaging items from the past, such as a record of bouts with venereal disease, drug addiction or alcoholism, or a family history of mental illness or cancer. Easily copied by duplicating machine and then spread, this sensitive information may eventually appear on the desks of credit and loan officers, personnel chiefs or even college admissions boards...