Word: repayed
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Dates: during 1970-1979
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...major advantage, says Princeton Provost William Bowen, would be that "the student who enters a relatively low-paying field would not be saddled with a huge debt." If a graduate student borrowed $2,000 and later earned $10,000 a year, he would repay only $90 annually. In that case, PAYE would recover $2,700 after 30 years, not enough to repay his debt and its interest completely. PAYE would be in the hole...
...would make up the difference? Prosperous graduates, who would pay more out of their higher incomes and thus subsidize the others. If a $20,000-a-year man had borrowed $2,000, for instance, he would repay $180 annually, or a total of $5,400 over the 30-year period. Those expecting to become affluent would have an incentive to join the plan at the beginning of their education as insurance against financial problems later. If they had enough money at midcareer, they could "buy out" their obligation for twice what they had borrowed, plus accrued interest...
...convicted offenders to recover the money. States would get federal grants to copy the plan. Of all U.S. offenses, 87% are property crimes, and restitution as the entire punishment makes sense in many cases unless violence is involved. Variations include Sociologist Charles Tittle's idea: the state would repay victims immediately, then confine and employ property offenders at union wages, keeping half their pay and putting the rest in trust for their use upon release...
TRADE. President Nixon had proposed, and the House had passed, new restrictions on textile imports, partly to repay such Southern states as North and South Carolina for support in his election to the presidency. But a band of liberal Senators, led by Oklahoma Democrat Fred Harris and Republicans Charles Percy of Illinois and Jacob Javits of New York, argued that such protectionism represents a historic reversal of U.S. trade policy and threatens to upset international markets. They vowed that it would not pass, and they were willing to talk it to death. The import quotas, moreover, were thrown into...
...pioneered a financing technique that is now standard in the shipping business. Before buying or building a ship, Ludwig would arrange for a client to charter it for up to 20 years. He would then borrow the entire cost of the ship, and repay the loan, plus interest, out of the charter fees. The result: a fleet purchased with other people's money...