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<strong>Interest rate</strong> – The maximum rate of interest that is charged on student loans is defined within federal statutes. In the FFEL Program, lenders often reduce the interest rate from the statutory maximum during the in-school or repayment periods for borrowers who pay on time or who meet specified eligibility requirements.
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conditionality (F3)<br />Lending to a debtor on condition that the loan is used for a specific purpose so that there is less risk of default in servicing the loan. It is argued that the INTERNATIONAL MONETARY FUND and WORLD BANK in making this stipulation make 'conditionality' a PUBLIC GOOD.
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Koopmans, Tjalling Charles, 191 0-84 (B3)<br />Dutch econometrician and economist who shared the NOBEL PRIZE FOR ECONOMICS with KANTOROVICH in 1975 for his work On LINEAR PROGRAMMING. Although educated in mathematics and physics at the Universities of Utrecht and Leiden, he turned to econometrics and economics when he worked at the League of Nations in Geneva from 1936 to 1940. Subsequently, he was at the COWLES COMMISSION, University of Chicago, from 1944 to 1955 and a professor at Chicago from 1946 to 1955 and then Yale from 1955 to 1984. His major contributions to activity analysis (operations research) were used to solve transport problems in the Second World War and during the 1948 Berlin airlift.<br /><em>Reference</em><br />Koopmans, T.C. (1937) Linear Regression of Economic Time Series, Haarlem: De Aerren F. Bohn.<br /> - (1957) Three Essays on the State of Economic Science, New York: McGrawHill.
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