Word: loaned
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Dates: during 1990-1999
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President Clinton has revealed a new plan for providing student aid that would give students $5,000 toward tuition in return for each year of community service and that would restructure federal student loan programs...
...said that banks and "Sallie Mac," the private student loan marketing agency, have already expressed resistance to the idea, presumably because it would mean a significant loss of revenue generated by the interest collected on student loans...
Conservative critics such as Baker Professor of Economics Martin S. Feldstein '61 have said such programs that link loan repayment to income wrongly distort work effort. Feldstein has also argued that taxpayers should not subsidize students who go to college, saying that students benefit from their choice in the form of high income
Epstein, according to bank officials and attorneys familiar with the case, defaulted on a $1.5 million loan he guaranteed from Los Angeles-based Mitsui Manufacturers Bank in 1988. But after a Los Angeles court ruled in 1992 that he was liable for the loan, interest and court costs, Epstein, by then a professor at Yeshiva University in New York City, had left town. The bank says he didn't leave a forwarding address...
...series of additional investments or loan guarantees since then might push Harvard's total loss into the $40 million range, one source said...