Word: borrowers
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...huge story." Bush relished the thought of rattling the cages of Washington's institutional bureaucracies; he told the aides that as long as he was announcing something, he wanted it to be dramatic. Said Bush: "As a friend from West Texas used to say, 'If you're gonna borrow $100 million, you might as well ask for $150 million...
...though, the sheer volume of complaints is making church officials nervous, fearful that their defenses might be breached. In 1997 the Dallas diocese had to use insurance money, borrow $11.3 million and sell all its vacant property to pay a reduced judgment of $31 million following an initial $119.6 million award for sex-abuse victims of Father Rudolph Kos. The Boston diocese says that to date it has paid nearly $30 million in settlements...
Here's the lowdown. Most students (and parents) who borrow to finance education using Stafford (and PLUS) loans emerge from school with a portfolio of loans, one for each year. They don't necessarily all come from the same lender, nor are they all at the same rate. The formula for Stafford loan interest--a variable rate computed each year--is the 91-day Treasury-bill rate set in the last auction each May, plus a factor. For student loans made between July 1, 1995, and June 30, 1998, that factor is 3.1 percentage points during the repayment period...
That said, refinancing isn't for everyone. Consolidating generally doesn't make sense for borrowers with just a few years remaining on their loans, since they would stretch out their term and pay more interest. Students with Perkins or Health Professional Loans also need to make sure that consolidation wouldn't void their deferment or cancellation privileges. And it's not an option for borrowers who have consolidated already; you can't go to the well again unless you go back to school and borrow more...
...your friends and relatives. They can tell you about dead spots and other frustrations. Borrow a phone and walk around every room in your house while talking to a friend. Go for a drive or visit your office with the borrowed phone and see how far service extends. Testing is the only way to ensure at least minimal coverage...