The Dept. Of Education’s Loan Default Unit Is In Disarray

Washington DC, USA Exterior facadeGETTY The U.S. Department of Education’s internal unit that handles defaulted federal student loans is in complete disarray. A chronic staffing shortage is causing borrowers and their advocates to experience unprecedented, hours-long wait times – sometimes ending in dropped calls. This means that hundreds of thousands of student loan borrowers may […]

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Can’t call Vijay Mallya thief for one default, he paid taxes for 40 years: Nitin Gadkari

Union Minister Nitin Gadkari on Thursday suggested that it is unfair to tag a “one-time loan defaulter Vijay Mallyaji” as a “chor” (thief), adding that the embattled businessman has a four-decade-long track record of timely debt servicing. Mr Gadkari, however, clarified that he has no business dealing with Vijay Mallya, who faces extradition from the […]

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Dhanlaxmi Bank’s upper tier II bonds downgraded to default rating

Care downgrades Dhanlaxmi Bank’s upper tier II bonds worth Rs27.50 crore to default category. Photo: Pradeep Gaur/Mint Mumbai: In a first for any bank in India, domestic rating agency Credit Analysis and Research Ltd, or CARE Ratings, on Friday downgraded some bonds of Dhanlaxmi Bank Ltd to default category. The bonds, technically known as upper […]

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