Word: loans
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Dates: during 1950-1959
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...University has wisely steered a middle path in the current controversy over the loyalty oath provision attached to the Student Loan Program under the National Defense Education Act. Rejecting the extreme stand of Bryn Mawr, Haverford, and Swarthmore--which refused to apply for funds restricted by the oath--the University has followed the course of accepting the money while pressing for the oath's abolition...
...this year, has led many observers to question the wisdom of the University entangling itself in the Federal program. Under the present act, they point out, the most money the University, including all the Graduate schools, can receive is $250,000, a relatively insignificant sum in a loan program where $400,000 in long term notes was issued by the College alone...
There is little dispute over the need for widescale use of loans to students, nor of the excellent quality of the National Defense Student Loan Program. It provides low interest loans up to $1,000 a year repayable over ten years following completion of a student's studies. Particularly noteworthy is the arrangement whereby public school teachers need only repay half the loan. Officials estimate 90,000 students will participate in the seven year program...
...Egypt. Now faced with the problem of absorbing 100,000 new immigrants (mostly from Communist Rumania), the government last week slapped new taxes, up to 70%, on consumer goods, ranging from aspirin to refrigerators. It abolished rationing, price controls and subsidies on essential foodstuffs and proclaimed a "compulsory loan," which would eat up as much as 12% of salaries after taxes...
...oath is extremely unfortunate in this case," she pointed out, "because it singles out students particularly as people who are suspect. But, since this is the first national loan program that has been passed by Congress, there are bound to be flaws...