Word: loaned
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...farming sectors. But as a 2005 report by the Council on Foreign Relations notes, "China's aid and investments are attractive to Africans precisely because they come with no conditionality related to governance, fiscal probity or other concerns of Western donors." In 2004, when an International Monetary Fund loan to Angola was held up because of suspected corruption, China ponied up $2 billion in credit. Beijing has sent weapons and money to Zimbabwe's President Robert Mugabe, whose government is accused of massive human-rights violations...
...problem of rising tuitions hardly surprises Jennifer Pae, the president of the United States Student Association. The 2005 graduate of the University of California at San Diego said students feel pinched from every direction. Federal grants are down, student loan interest rates are up, and tuition continues to rise. "We're seeing students across the U.S. locked out of an education," she said. "Federal aid, especially, has decreased. Students are having to work two and even three jobs to make...
DIED. Robert Stafford, 93, former Republican Senator from Vermont who bucked his party as a staunch environmentalist and championed education; in Rutland, Vt. In 2000 Stafford, for whom Congress renamed its Federal Guaranteed Student Loan program in 1988, spoke on his state's debate over gay marriage: "I consider that love is one of the great forces in our society ... what harm does [it] do anybody or any society...
...Turkish-born son of a diplomat, he fell in love with jazz in his youth, and as a teenager amassed a collection of 15,000 records. A hands-on producer, occasional songwriter, tireless talent scout and mentor to many of his artists, Ertegun--who started with a $10,000 loan from his dentist--popularized soul and later signed bands from the Rolling Stones to Led Zeppelin. Asked what he thought of Curtis Armstrong's nerdy portrayal of him in the film Ray, Ertegun said, "I don't care what the man looks like or anything, but it should have been...
...idea sometimes starts out small. In 1974, after earning his Ph.D. in the U.S., Muhammad Yunus was teaching economics at Bangladesh's Chittagong University. When a deadly famine struck the country, Yunus, eager to lend a helping hand, paid off the money owed to loan sharks by a group of impoverished villagers struggling to survive; they should repay him, he said, "when they could." Eventually they did, but that was not the most significant aspect of the episode. While the total sum was only about $27, that a stranger would trust them with his cash gave the villagers an appreciation...