Word: defaulters
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Dates: during 1980-1989
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...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
...utility has a 30-day grace period, which ends in mid-November, to correct its default. If it fails to do so, creditors could push Public Service into bankruptcy and reorganization. The company would then become the first U.S. utility to succumb financially to the nuclear-plant cost overruns and environmental battles that have plagued dozens of plants across the country. Even the $2.25 billion default of the Washington Public Power Supply System in 1983 failed to knock out any utilities, largely because WPPSS was a consortium in which the financial burden was shared by 16 companies. But the weight...
...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...