Word: loan
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...Harvard can afford to spend four percent of its total operating budget on six fund managers, it can afford to freeze (or roll back) tuition, replace loans with grants and forgive loan balances for recent graduates with modest incomes. If Harvard can pay two employees $120 million for managing money over two years, surely it can afford to pay higher wages to employees who clean the rooms, do the laundry and serve the food...
...hurt thousands of struggling students but hardly a major step toward closing the growing deficit. Forget about Pell Grants—if Republican lawmakers want to save taxpayers some real money on student financial assistance, they should take a look at the pork that passes for our federal student loan program...
Under the current system student loans are administered through two very distinct mechanisms, the Federal Family Education Loan (FFEL) Program and the Direct Loan program. From the perspective of students there isn’t any difference between the two—the programs lend out money at identical interest rates and under identical terms—but the American taxpayers who fund these operations might want to take a closer look...
...Direct Loan program is a good model of government efficiency: The feds raise capital at low interest rates, lend it directly to college students, and pick up the interest for their trouble. This offsets the cost of contracting out the collection duties to private companies...
...fall. Those fears were exacerbated last Friday when Federal Reserve Chairman Alan Greenspan said that international investors would "eventually adjust their accumulation of dollar assets"-which means sell them-or "seek higher dollar returns"-which means that U.S. interest rates might soar. Rising interest rates could lead to loan defaults and a reduction in consumer spending, which could easily plunge the U.S. into a recession...