Word: loaned
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Dates: during 1980-1989
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Thought you could get away with defaulting unnoticed on your federal student loan? Think again. The U.S. Department of Education announced that they would send letters notifying more than 80,000 students who have defaulted on federal loans that their income tax refunds could be seized to pay off the debt. Twenty-one thousand federally sponsored student loans to Harvard students, totalling $80,000, are outstanding, University officials said...
...account for 95% of its total export earnings, are believed to be sucked up by interest payments on the debt. Moreover, as the world price for crude oil has declined over the past four years, Nigeria's revenues have been cut in half. Buhari had been seeking an IMF loan of $2.5 billion to $3.5 billion to help deal with the growing economic crisis, but he had refused to accept the international agency's demands that Nigeria first devalue its currency, the naira...
Exactly how much effect the political unrest has had on the stability of the country is hard to judge, but the economic impact has been considerable. Given the state of unrest, many foreign bankers seem determined not to renew loans as they mature. This is particularly serious because so much of the debt is short-term; according to various estimates, about two-thirds of South Africa's total foreign debt of some $17 billion will mature within a year. In the past, the banks simply rolled these borrowings over, in the fashion of a charge account. The government's immediate...
...thing smaller financial institutions can do as effectively as the larger ones is create a frightening mess. Community Savings & Loan (assets: $443 million) of Bethesda, Md., demonstrated as much last week by getting into such a pinch for cash that it prompted Governor Harry Hughes to declare a 20- day ban on withdrawals from the thrift's 30,000 accounts. Community's , customers, who were still jittery after a statewide S and L crisis in May, had staged a run on their deposits after hearing about shakiness at the thrift's real estate subsidiary, Equity Programs Investment Corp...
Students are required to begin paying loans six to nine months after graduating from the institution for which they use the loan...