Word: repay
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Commercial banks and S&Ls confidently assure loan applicants that under federal law, qualifying for a home mortgage isn't a black-and-white issue -- it's green. Theoretically and legally, the sole criterion is whether the borrower can repay the loan. But a new nationwide survey by the Federal Reserve Board shows that in 1991 banks denied home mortgages to 37% of all black applicants but only 17% of whites. Sadly, income disparities don't account for the gap. Even among the highest income blacks, 23% of applicants were denied loans, vs. 9% for whites of comparable income...
...problem is the law of unintended consequences; if it is easier to get a loan, colleges may feel free to raise their tuitions even higher. Wealthy parents will be able to borrow at bargain rates. Poorer parents, meanwhile, may be tempted to borrow more than they ever expect to repay; the default rate on government-backed loans is roughly 22% and bound to rise. As for outright federal grants, many more families will be eligible. But Congress has not set aside enough money to cover everyone and so is cutting the maximum grant amount. Neither the states nor the colleges...
...sentence that Hogue is appealing would require him to serve nine months in jail and five years on probation, as well as to perform 100 days of community service and to repay the financial aid he received from Princeton...
Under the program, all Americans could borrow funds for college from the government. Students could repay their debts either by offering a percentage of their income over time or by participating in national public service projects...
...wrote a secret letter urging bank chairman William Draper III to open a line of credit for Iraq, though most of the world's financial institutions had stopped lending to Baghdad and the Export-Import Bank's own analysts had concluded that Iraq could not be counted on to repay...