Word: default
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Harvard administrators said yesterday that the University's student loan payments will not be endangered because Harvard's 7.5 per cent default rate falls below NDSL's proposed limits. Harvard students receive approximately $1.5 million annually from NDSL grants...
...proposal to discontinue student loan payments to colleges whose default rates on a federal aid program for especially needy students exceed 25 per cent will have little effect on Harvard students, University officials said yesterday...
Secretary of Education Terrel H. Bell seeks to penalize institutions with default rates of 10 to 25 per cent on the National Direct Student Loan Program (NDSL), which grants money directly to colleges...
...Education Department defines a default rate as the percentage of students in a university who fail to repay their federal loans within prescribed time limits...
Although Communist governments have traditionally been some of the best credit risks in banking, a Polish default would change views about all future East European loans. Warned a leading West German banker last week: "The Soviets must know the dangers of not financing the Poles. It will be cheaper for them in the long run to do it because if they don't support Poland now, they and the entire East bloc will have to pay a lot more for all their credit...