Word: loaned
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Dates: during 1970-1979
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...plan would require students who draw money out of the fund to pay back to the government the sum advanced plus a 50 per cent surcharge--through a 2 per cent withholding tax for each year their income exceeds $5,000. Because the loan would be paid back through the Internal Revenue Service, the bill's sponsors argue that the TAF would avoid the problems of default that have plagued past government loan programs...
Under the new law, any student, regardless of family income, will be eligible for a government subsidized loan. In the past the government has subsidized only those loans going to families with an adjusted income below $25,000, R. Jerrold Gibson '51, director of the fiscal services department, said yesterday...
...will make a lot of students poorer and a lot of parents richer over a transitional period of about 40 or 50 years," Olson said yesterday. He added that the plan could serve as a "disincentive" for students to earn higher incomes and thus pay back more of the loan each year...
...large loan it may be worth it; for a small loan the interest rate is pretty high," Olson said...
...ways of manipulating money supply other than raising interest rates; it can, for example, pull money out of the banking system by selling Government securities. But heavy loan demands defeat the best-laid plans and cause both interest rates and the money supply to rise. So it is a destructive cycle: people borrow to stay ahead of inflation, and vigorous borrowing feeds inflation. So all economic troubles now come back to inflation-a great evil in itself and the main force that is driving down the dollar and the stock market, forcing up interest rates, frightening consumers and threatening recession...