Word: ndea
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Dates: during 1960-1969
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Since it was approved, in 1958, the NDEA has helped hundreds of thousands of college students for whom this very expensive four-year proposition would have been impossible. NDEA, if the experience of Harvard students is any indication, has been a dependable, easily accessible source of money. Graduate and undergraduate students may now borrow up to $1000 a year interest free while they are in school; after graduation, they begin to repay the principal and pay interest at three per cent...
...been such a popular success. Rep. Edith Green (D-Ore.), the President's choice to steer his health-education package through Congress, has said the House is unlikely to go along with Johnson unless he offers "concrete guarantees that no one will be hurt" by phasing out the NDEA. Rep. John Brademas (D-Ind.), who serves on the House Committee on Education and Labor with Mrs. Green, has predicted that the President will face fierce fights in both houses...
Although he has asked that funds be slashed by only one-quarter in the coming year, the President would like to replace the NDEA loans with government-in-sured loans. He has proposed that the government guarantee loans which students would negotiate themselves through home town banks or state agencies. The government would pay all of the interest while the student is in college and part of it after he graduates, provided his family's income, figured on a complicated formula, is under $15,000. If the family's income exceeded that amount, the government would not subsidize the interest...
Johnson regards the change-over as a concession to thrift and good bookkeeping. Bankers, college administrators, and students with NDEA loans--the people most concerned with a switch in the procedure--are not as dispassionate. Forcing a student to obtain a loan from a hometown firm, they say, will create problems never encountered when all he had to do was walk to his college's financial aid office and sign a single form...
Because the neediest students would not be able to negotiate their own loans, the financial aid resources of many colleges would be severely strained. Harvard, with its enormous private loan funds, could stand by its students, but many small private colleges depend completely on NDEA money. Colleges like Radcliffe could no longer afford to admit great numbers of students with financial need. Northeastern, Boston University, and other colleges whose enrollments are drawn from lower-income families, would find that many of their students simply could no longer afford higher education...