Word: payment
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Claustrophobia. Even behind bars, Aunay managed to put his talents to profitable use. Put away in 1962 for a brief term in Paris' Fresnes Prison, he wangled a job in the prison purchasing office, and whiled away his sentence forging $120,000 worth of payment orders for goods the prison never received. During a three-year term for armed robbery in Nice, he suffered a convenient heart attack and wound up living it up in the prison ward of a local hospital. He passed out caviar to his nurses, champagne to his guards, and threw an elaborately catered foie...
Both the older NDEA loan program, which is funded by the government, and the guaranteed loan program limit the amount that can be borrowed and require that it be re-paid in ten years or less. Without these limitations, compound interest charges would make re-payment almost impossible...
...repayment provisions would make the Zaccharias plan much more attractive than other loan programs. Interest rates would not influence the payment schedule, so a student could borrow as much as he needed. Having repayment tailored to income would also free a borrower from the compulsion to enter a high-paying job in order to pay off his loan and accumulated interest charges as quickly as possible. A borrower's obligation to the Bank would end at his death instead of being passed on to his estate...
...plan because it would make student indebtedness a permanent feature of their higher education. Supporters of the Bank are not worried by this charge. College graduates receive much higher salaries than people with less education, so they can be expected to pay part of the cost, By basing re-payment on a borrower's income, the Zaccharias plan in theory charges each participant in direct proportion to the financial benefits which his education gives...
...range of activities. Energy does indeed reach from oil for the lamps of India to power generated by a subsidiary in Hong Kong. Affiliates also offer lodging in Esso motels and meals from Esso restaurants. The company could probably topple a few governments and settle some revolutions by selective payment of its oil royalties to one faction or another. "It's fantastic," says a U.S. State Department official, "what powers they have and how coolly they play their cards...