Word: loaned
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Dates: during 1960-1969
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EXCEPT for the insured loan program and veterans benefits (and these are, to be sure, major exceptions) the undergraduate student aid programs redistribute income progressively. For example, the education opportunity grant program channels two thirds of its funds to students whose parents are in the lowest income quartiles. Less than 2 per cent are channeled to the top income quartile. There is no doubt that the redistributional characteristics of undergraduate student aid could be improved, but large numbers of low-income students depend on this support for their education. It is not clear what purpose would be served by driving...
...amount which a student is expected to contribute from term-time earnings-or by taking out a loan-has been raised from $500 to $600. Currently, dorm crew and dining hall workers earn from $700 to $800 a year by working 8 to 10 hours a week, he said...
...fact, in this period the Faculty had a total net surplus (income over expenditures) of over $8 million. More than four and a half million dollars of this was transferred into the principal of the endowment and most of the rest ended up in various reserves and loan funds...
...University does provide help, it is not in the form of a gift but of an interest-bearing loan...
...Georgia Plan permits loans even to people who can offer no security at all. To circumvent banking regulations that prohibit such lending, Citizens & Southern set up a subsidiary called Community Development Corp. and capitalized it at $1,000,000. CDC approves the risky loans and advances the down payment if a customer cannot. Then Citizens & Southern steps in with the balance, and the down payment is handled as part of the total loan. Normal interest rates are charged, but the terms can be adjusted so that the borrower can meet his installments, which are usually no more than the rent...