Word: loan
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Monell said that the current loan burden on exiting students is too much for them to bear. He estimates that overall $10 million in graduate student need still goes unmet...
Summers’ initiative is expected to focus initially on schools where applicants are discouraged by the prospect of an endless burden of debt. Preference for loan-relief would therefore be given to students who enter into public service or other valuable but low-paying professions after graduation. Such an approach would focus aid to certain groups in order to provide the greatest benefit with a limited amount of funds...
...Members of Congress have proposed a host of bills to fix that, by giving Amtrak and the states anywhere from $20 billion to $70 billion in tax-exempt bonds and loan guarantees. But despite a diverse coalition of passenger-rail supporters, from Senate majority leader Tom Daschle to his Republican counterpart Trent Lott, it's unlikely that Amtrak will control all the funding or that it will survive much longer in its current form...
...Loan relief for students who go into low-paying professions and public service is a therefore a top priority...
Joel C. Monell, dean for administration and academic services at GSE, said that the loan burden there is a severe problem...