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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 12, 1987
Page
29
Washington AP reports November retail sales at 125.9 billion dollars, up 210 million from October. The gain follows sharp declines of 9.9 percent in October and 1.7 percent in September, with revisions lowering earlier estimates. Wholesale prices held steady as consumer demand lagged.
At a Senate hearing Bruce Carnes deputy undersecretary of education defended a crackdown on student loan defaults. He said many profit making trade and beauty schools recruit barely literate job seekers from unemployment lines. Senator Edward Kennedy attacked the plan as harming vulnerable young people and called it an indictment of proprietary schools. Carnes noted 80 percent of high default rates involved for profit trade schools. He added defaulters are often low income, divorced, or minority students.
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