It pays interest subsidies only to Ford Credit, not other finance houses.

An earlier scheme of reducing or eliminating the interest subsidies and raising other direct charges to students stirred complaints over the summer.

Other aid programs would also be cut by more than $1 billion, and interest subsidies on student loans would end.

Education: Vote to kill an Administration amendment to an education bill that would provide $22 billion for school construction and repairs through interest subsidies.

The bank acts as a distributive institution, receiving an interest subsidy from the government.

The Community initiative for granting interest subsidies on loans was modest but welcome.

Many countries have introduced the system of interest subsidies to support business.

The 1988 budget calls for another half-point reduction in interest subsidies to banks.

Clinton said yesterday that removing the interest subsidy would amount to "the biggest cut in student financial aid in the history of the United States."

He said he was sure his plan would not force the labor committee to change the undergraduate in-school interest subsidy.