Word: lowe
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Dates: during 1960-1969
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Ignoring the Realities. So much of the feverish activity involves outright speculation that the American Exchange last week issued its sternest warning in years. Amex ordered 650 member firms to "discourage excessive speculation-particularly in volatile or low-priced stocks." It gave brokers until month's end to report what steps they have taken to tighten sales procedures and warn customers of the dangers. Added Amex President Ralph Saul: "As new generations are attracted to the marketplace, there is a tendency to ignore the realities of investing. Speculating soundly requires getting the facts, avoiding tips and rumors, recognizing...
...before last year, when Senators began feeling pressure from their constituents. However, tax leaders in the House agreed with criticism which had been offered in the Senate, and the Ribicoff bill died in committee. Senate liberals had condemned the plan as "class legislation" since it did nothing to help low-income families, whose tax payments are small. Furthermore, although the tax credit discriminated in favor of middle-income families with children in college, its maximum allowance of $325 would not have helped them very much either...
Unlike the other plans, the Bank would provide a comprehensive solution to the problem of aiding students. For the first time, a student from a low-income family would be guaranteed that he could find enough assistance to finance a college education. In order to reduce the amount an exceptionally needy student must borrow, the Zaccharias committee will probably recommend direct federal aid for families in the lower income levels...
Ending this financial pressure would weaken state universities, whose low fees attract state residents, and community colleges, whose students usually cannot afford to live away from home. Unless they would be willing to see their best students use the loans to attend a more expensive college, institutions would be forced to compete for them by raising the quality of their education. This process would probably lead to higher tuition costs...
...Gleason, professor of Mathematics and a member of the Zaccharias committee, hopes that this independence would make administrators of large universities "more responsive to student desires." He argues that administrators of state universities can ignore student opinion because the vast majority of students are "locked in" by the low fees and cannot afford to attend another institution. With Bank loans available, students would no longer be forced to enroll in a college whose policies they did not like. Predictably, the National Association of State Universities and Land-Grant Colleges condemned the Zaccharias plan just a few hours after...