Word: default
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...PUBLIC this week was treated to the familiar sight of U.S. Secretary of Education William J. Bennett on the warpath. On this, his latest campaign, Bennett is addressing a disgraceful problem largely ignored by educators, namely the increasingly high rates of default on student loans. As usual, Bennett is getting a lot of attention--not the least of which is coming from Congressmen and university administrators...
...Reagan Administration will cut off financial aid to colleges and universities with high default rates on student loans, Secretary of Education William J. Bennett threatened yesterday in a Washington press conference...
Education lobbyists representing Harvard and most other colleges and universities have waged a battle to pre-empt Bennett's plan by proposing their own solutions to the default problem. They fear that Administration officials will use the default issue to achieve their long-sought goal of crippling financial aid programs...
...Bennett and hostile congressmen could use default to threaten funding for all financial aid programs," said
...deficit- ridden companies. Although Argentina has been conciliatory to creditors, foreign bankers have been especially leery of debtor nations ever since February, when Brazil stopped paying interest on a large part of its $110 billion debt. That helped lead several U.S. banks to declare record losses. Since a similar default by Argentina would add to the bankers' mounting woes, they are as eager for Alfonsin's new program to work as the President...