Word: low-interest
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...last few years he has had little time to enjoy the view, has been intent on a much broader horizon. As a director of the Export-Import Bank since 1954, Vance Brand, 52, has traveled more than a quarter of a million miles at the job of overseeing longterm, low-interest loans for the world's underdeveloped nations. So well has he handled the job that President Eisenhower last week nominated him for a post that will keep him away from Ohio even more: managing director of the two-year-old Development Loan Fund, to succeed Dempster Mclntosh...
When Congress voted a $6 million appropriation for long-term, low-interest student loans under the National Defense Education Act, it failed to provide a satisfactory method of allocation. Under the law, if requests from institutions of higher learning exceed the appropriation (a foregone conclusion), the requests within each state are slashed by a corresponding percentage. In Massachusetts, for example, colleges asked for over $2.3 million, whereas only $249,680 was available. Resulting grants thus were pared to about ten per cent of requests and ranged from Boston College's $54,472 to the $51 gift to North Adams State...
Federal assistance to higher education, especially long-term, low-interest loans, is welcome. As colleges are forced to expand, their financial aid resources are spread thinner and thinner. But, to prevent the Program from becoming a farce, Congress should amend the Act to provide a workable method for determining actual financial need, while insuring colleges against unwanted Federal control...
...most lavish assistance program in history (total Veterans Administration spending since 1946: $72 billion). Most important, the aid was given when and where it could help a man re-enter competitive society. U.S. Employment Service set up a nationwide job hunt. The VA guaranteed $50 billion worth of low-interest loans to help buy 5,700,000 homes, 73,000 farms, 237,000 small businesses. Riding a gravy train, 8,500,000 joined the "52-20 Club," by 1949 spent up to 52 weeks (average: 19) drawing $20 a week in special unemployment pay. Says Seattle Teacher Otto N. Larsen...
...moment one of Washington's Middle East experts arrived in the area to collect answers to such fantastically tangled questions. Arab newspapers carried extravagant stories that Assistant Secretary of State William Rountree, 41, a Dulles protégé, was on his way to offer Nasser a big low-interest loan. Baghdad's newspaper al Zaman charged that Rountree "is coming here to weave conspiracies against...