Word: loans
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Dates: during 1950-1959
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Monro said yesterday that the size and number of loans "will almost certainly keep growing." The annual amount of Scholarship aid has not been able to keep pace with the increasing cost of college education, and an expanding long-term loan policy has made up the difference, he remarked...
Under the new system of loan administration begun in 1949, long-term grants are not due until the student has completed college and duty in the armed service, and interest is not compounded until the completion date. Previously, 41/2 percent interest started with the grant of the loan. The limit to any award was $400 during the student's college career, compared top the present $400-per-year maximum...
...library increases. Thus the need for more and more economical ways of making books available will increase rather than diminish. It is here that Metcalf has done his most significant work. By placing the catalogues of the world's great libraries in Widner, and refining the interlibrary loan, Metcalf has made almost any book in the world available to the patron of the University library...
Another worry is the recent sharp increase in housing credit, particularly in certain Veterans Administration and Federal Housing Administration insured loans. In February the VA, which already has $27 billion out in loans, got applications "for 104,000 more loans, the highest monthly total since October 1950, and 86% more than a year ago. Almost 40% of the VA's loans require no down payment, give up to 30 years to pay, thus putting consumers in debt for too long a time. Some no-down loans even cover the mortgage closure costs, while in Texas one lender advertises...
...been put on sale by Manhattan's Kamkap, Inc. The coil, buried at the bottom of the grill, will light charcoal, have it at broiling heat in less than two minutes. Price: $19.98-$100 Revolving Credit. Boston's First National Bank has started a new-type personal loan based on the revolving credit fund used by business. The bank extends credit to a borrower based on how much he can pay back each month for a year, lets him write checks against it, charges him 1% a month on the outstanding balance and a service charge...