Word: loaned
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Dates: during 1990-1999
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...Federal Direct Student Loan Program eliminates the gobetweens--lenders and guarantor agencies. That means the U.S. Department of Education can offer students the low interest rates available to the government without the fees charged by banks...
...shouldn't have to have an MBA in finance to understand how to get and process a loan," agreed Riley...
...most important thing is that it simplifies the student loan process," said Eileen O'Leary, Stonehill's financial aid director. "Instead of a student being told by the school that they are eligible for the federal Stafford Loan and then having to get an application from the bank, forward it to the school and then the school sending it to the guarantee agency and then the bank sending it to the school, the students get one-stop shopping." out," O'Leary said...
Under the current Federal Family Education LoanProgram, students apply for loans throughcolleges. Banks provide the money and thegovernment pays the loan's interest until thestudent leaves school. If a student defaults, oneof 47 guarantor agencies repays the lender andthen tries to collect the debt...
...President is being made by David Hale, a former municipal judge, who was indicted in September on charges of defrauding the Small Business Administration. Hale, who ran a federally sponsored lending company in Arkansas, claims that in 1985 Clinton and McDougal pressured him into making an improper $300,000 loan to McDougal's wife. White House officials dismiss the allegation, and Hale has admitted that he has no documentation to back...