Word: low-interest
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...more jolting. The iron law of budgets has been that more citizens receive more generous federal benefits every year. Reagan would reverse that process: under his plan, fewer people would qualify for welfare benefits, for long-term unemployment compensation, for subsidized school lunches, for Social Security disability payments, for low-interest, federally guaranteed student loans. Some 400,000 of the 5½ million households now eligible to buy food stamps would be dropped from the rolls next year. And while total spending and tax collections would rise, they would grow less rapidly than the private economy; federal expenditures...
...concede that the program is not very efficient, since it helps relatively few people. Consider the town of Mount Auburn, Iowa, which needed a new water system to replace its shallow and inadequate wells. Mount Auburn turned to FHA, which provided $395,000 in grants and $140,000 in low-interest loans to build a new water system-for 187 residents. In Benton County, FHA spent $5 million to help an area with only 22,000 people...
Intending to increase access to expensive schools such as Harvard, Congress in 1978 included middle-class families among those eligible for tuition grants and, at the same time, opened the government's guaranteed low-interest loan program to all students. But the legislators' good intentions have in many cases backfired...
...consistent budget cutter even when his own political interests get nicked? He was strongly supported by the maritime unions and the shipping interests, recipients of considerable federal largesse. Will Reagan risk offending them by failing to increase their stipends? He faces the same problem in the case of farm subsidies. They contribute to the costs of Government and the food bills of consumers, but they are also demanded by a powerful voting bloc. Reagan won support from middle-income and blue-collar workers, who make liberal use of low-interest student loans provided by the Government. The President will upset...
...Portland residents who are weatherizing their homes voluntarily, the city has put together an $18 million fund to provide low-interest loans. Local utility companies, which have discovered that it is more economical for them to finance home insulation than to build new power plants to meet higher energy demand, also provide no-interest loans for fuel-saving projects...