Word: low-interest
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Although Forbes made low-interest loans available to any staffer with more than a year's service, fewer than 50 employees owe the company money. As spokesman Don Garson put it: "I'm sure many of us are saying, 'Damn it, why didn't I borrow something...
...cutback of $665,878 from the original Dukakis request for a new scholarship program, which would fund low-interest student loans and aid to needy part-time undergraduates. Officials at the Governor's Office for Education said yesterday that administrative costs for the program would now be funded entirely from the base scholarship appropriation...
...leveled housing funds from 7.5% of the federal budget in the late 1970s to 1.5% last year, many legislators now want the Government to aid first-time buyers actively. One bill, sponsored by Henry Gonzalez, chairman of the House Banking Committee, would create a $6 billion fund to make low-interest mortgage loans to first- timers who earn up to 115% of the median income in their communities...
What Washington must do is make sure that available money is carefully targeted and intelligently spent. Local governments have already taken the lead in offering low-interest loans or tax-exempt bonds to finance housing construction. By providing loans to developers and easing building codes, San Diego has spurred the creation of five new SRO hotels, where tenants pay from $240 to $390 a month. In New York City last week, local officials joined with a community-development group to finance the construction of 1,000 apartments for low-income families; $25 million of the $80 million cost was raised...
...further than high school is one potential source of antagonism. Another is the growing cleavage between young and old. While young couples wonder if they can ever buy their dream house -- or any house -- people of their parents' generation are sitting on a gold mine. Many have paid off low-interest mortgages on houses bought a quarter-century ago for around $20,000 and now worth perhaps ten times that...