Word: loaned
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Dates: during 1960-1969
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University officials reject another method of financing-paying for the project out of the University's endowment funds. Though the GSD suggested that Harvard could loan money from its endowment at five per cent interest, Harvard officials point out that endowment funds currently gain about 7 per cent a year and argue that it is vital to keep this return high in an era when all divisions of the University are increasing their demands for funds. "If you take unrestricted money which is now earning interest and use it to meet operating expenses, you just increase the size...
...existing prior to yesterday's vote, when a student was put on academic or disciplinary probation, the financial aid committee automatically reviewed his scholarship shortly thereafter, and could cut it by up to $500 immediately, depending on the student's financial status. The student would receive an interest-free loan to replace the loss of the grant...
...idea is popular with parents, who find that inflation has made extra cash scarce. Charging on the card often amounts to an interest-free loan for several months. Reason: banks take time in processing the bills, and payment is not due until 25 days after the billing date. Even then, payments can be spaced out, though interest charges amount to as much as 18% a year. Such steep charges can make the cards quite profitable for banks...
...blind to read. For 17-year-old Candy Linvill, blind since the age of three, Braille's system of dots posed little problem, but she was still confined to those books and publications that are issued in Braille. Now, because of an ingenious new device on loan from her father's laboratory, she is freed from that limitation...
Free Elections. Ghana's first republic foundered under Kwame Nkrumah, the megalomaniacal coxcomb who called himself "Osagyefo" (Redeemer). Nkrumah was toppled 44 months ago and sent into exile in nearby Guinea. He is living there on the interest that Guinea is paying on a $2,400,000 loan made during his administration. Since he was deposed, Ghana has been ruled by the National Liberation Council, a six-member coterie of army and police officers...