Word: loaning
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Even though the levels of funding will likely stay the same, regulatory changes may make loan funds more difficult for Harvard to distribute, according to James S. Miller, Harvard director of financial...
Both houses have committed to increasing maximum Pell Grant awards from $2,340 to $2,440, raising student loan funding overall in the next several years and maintaining funding for work-study and Supplemental Educational Opportunity Grants...
REMEMBER THE GREAT SAVINGS AND loan debacle of the '80s, when Uncle Sam was forced to spend $150 billion to bail out hundreds of thrifts that had made bad loans, largely for bad real estate? Japan, famous for its ability to copy and enlarge upon invention, has an S&L-like banking scandal of even greater proportion--perhaps a trillion dollars' worth. The fiasco is so large it could even disrupt Wall Street, which relies heavily on Japanese money...
...scandal revolves around seven housing-loan companies, or jusen, created in the 1970s to provide loans to home buyers. During the "bubble" years of the late 1980s and early 1990s, these companies lent huge sums, not to home buyers but to shady real estate speculators, many of whom were linked to Japan's tattooed gangsters, the YAKUZA. Just as in the U.S., real estate crashed in Japan, although a bit later, in the early 1990s. Result: the housing-loan companies watched their bad loans rise to at least $77 billion, more than 75% of their total portfolios...
...weeks opposition legislators blocked entrances to the budget-committee room of the Diet, Japan's legislature. They picked up their cushions and departed last week only after Prime Minister Ryutaro Hashimoto agreed to extend debate on what had been a no-questions-asked $6.85 billion bailout of the housing-loan companies...