Word: loans
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Dates: during 1950-1959
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Morgan explained to Howell the committee's objections to the then extant $600 limit tax law, describing how it stifled initiative, hindered the student who is perhaps most to be commended from helping himself, and handicapped college scholarship and loan boards, which could use their funds to provide more people with educations if students could cut down their scholarship needs by employment...
Imagine another case where the son has won an $800 scholarship, earns $700, and borrows another $400 from the Financial Aid Center. Here Father would have to match $1100. Although he can ignore the scholarship he must include the amount of a loan in the figure which he must balance, in the opinion of a Corporation tax counsel...
...loan plan allows greater flexibility both to students who get scholarships which do not cover all their need, and, also, to students not awarded any outright gifts. Previously, if a scholarship student needed aid above scholarship funds, it was necessary for him to work. He now has the option of taking a loan instead, or of decreasing his work load and taking a smaller loan...
...hours with Ibáñez and his chief ministers, Holland got a restrained rundown on Chile's plight. They asked for no U.S. aid, but Chilean economists later told him that at November's hemisphere conference in Rio they will seek creation of a new development-loan bank and price supports for Latin American raw materials. Holland spoke up for broadened trade and private investments, and departed, soberly, for Bolivia...
Congress, in cheating SBA 14 months ago, set up a revolving fund of $80 million for loans. But SBA avoids competing with private bankers, keeps its interest rate at 6% (v. about 3% for comparable private loans) and advises every applicant to try local banks first. If the bank can take part of the loan, SBA will take the balance. Its requirements for collateral are more lenient than those of private banks, but every borrower must prove his good character, have substantial money of his own invested, show that he can operate successfully. Says Barnes: "We don't make...