Word: loan
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Dates: during 1980-1989
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...Student Tuition and Repayment System (STARS) that Dukakis proposes would give low-interest loans to any student who needs them. Banks would provide the loans, with the federal government guaranteeing them and serving as their collector. Students would pay into a loan fund over their lifetime by having a small percentage of their annual salaries withheld...
...Dukakis loan proposal comes at a critical time. College costs have fast outpaced the growth of family incomes since 1980, and the Reagan Administration has been reluctant to make up the gap. Even with adjustments for inflation, federal student aid has fallen by 6 percent during this period and has been increasingly concentrated in the form of loans rather than grants, forcing more middle-income students and families to take on oppressive debt burdens. As a result, default rates have skyrocketed to record levels...
Most investors make money by avoiding financial disasters. But a growing number of savvy business executives have begun seeking fortunes in the ruins of the savings and loan industry's insolvent institutions. Since 1984 investors have bought 260 failed S and Ls, most of them in the West and Southwest, where thousands of loans to the depressed real estate and oil industries have gone bad. Last week Robert Bass, 40, one of Fort Worth's billionaire Bass brothers and an accomplished takeover artist in his own right, joined the trend. He led a group that agreed...
...greatest incentive for investors to buy large bankrupt S and Ls is that the Government will often promise to reimburse the new owners for any existing loans that are not repaid. Reason: the Federal Savings and Loan Insurance Corporation, a Bank Board unit that insures S and L deposits, would soon run out of money if it simply shut down the troubled giants. Paying off all American Savings' F.S.L.I.C.-insured depositors would have cost an estimated $4 billion to $5 billion, twice the price tag for last week's rescue. Thus the Bank Board must find buyers for the distressed...
...last November's revelation that Kennedy School Dean Graham T. Allison '62 had attempted to swap a $500,000 gift in exchange for University Officer status. The K-School, with only a small pool of alumni but ever-expanding programs, badly needed the money to bolster the school's loan forgiveness program. Administrators let the demands of fundraising overshadow Harvard's ethical guidlines...