Word: ndsl
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Dates: during 1970-1979
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...area that Congress cut in this year's budget and one that might decline or even disappear in future years is the National Direct Student Loan program (NDSL), an alternative that offers students loans at 3 per cent interest, as opposed to the 7 per cent Harvard charges on its own loans. Across the nation, NDSL has been plagued by students defaulting on their loans, and Congress dislikes the program. Nor did a 60 Minutes expose of the NDSL's problems in the fall help its reputation. Next year, Harvard will receive $440,000 in NDSL funds, 26 per cent...
Lyman says that "most students don't even know what kind of loan they have," adding that she has actually had to recruit people to take the NDSL...
Last year's grant of $74,000 was "smaller than usual" because the Financial Aid Office underspent NDSL funds in '76-'77, Lyman added...
...NDSL program, students receive loans without interest while in college and then pay three per cent interest after graduation...
Radcliffe matches one-ninth of the NDSL funds allotted by the government and channels repaid NDSL loans back into the program...