Word: defaulting
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Cavazos' recent agreement with Congress to delay cuts in federal funds to schools with high default rates indicates a far more conciliatory and cooperative attitude toward Congress than Bennett ever showed. Such cuts--Bennett's parting shot in his last week in office--would unjustly punish schools with high percentages of lower-income students...
...recapture the four gold medals he had won in Los Angeles four years earlier. The first blow to his dream came when Ben Johnson left him behind in the 100-meter sprint. Lewis' quadruple quest was suddenly revived when the gold medal was awarded to him by default after Johnson's positive test for steroids. Lewis seemed to be headed for another gold in the 200 meters, but was inched out at the tape by his teammate and friend Joe DeLoach. "Now the world knows how well Joe is running," Lewis said after the race...
...significant reduction in Latin American debt. They agreed on a plan that could slash Brazil's $110 billion debt load by $18 billion within five years. Some of the loans will be exchanged for equity stakes in Brazilian businesses. The banks will suffer losses, although technically Brazil did not default on any of its loans. As the bankers view the transactions, the loans have been reduced but not forgiven...
...make up the gap. Even with adjustments for inflation, federal student aid has fallen by 6 percent during this period and has been increasingly concentrated in the form of loans rather than grants, forcing more middle-income students and families to take on oppressive debt burdens. As a result, default rates have skyrocketed to record levels...
...proposed program has several advantages over the existing Stafford Student Loans, as the former Guaranteed Student Loan program is now called. Since repayments are directly taken from one's earnings, like Social Security deductions or income tax withholding, default is rendered virtually impossible...