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Changes in the loan terms will reduce principal repayments by $25 million this year and $535 million in 2002, the company said.
David N. Siegel, the chief executive of US Airways, pointed to Southwest as a reason the airline had to tear up its business plan, seek buyers for its assets and lobby its unions for concessions as well as obtain changes in the loan covenants.
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The temporary change in the loan limits is not about to revive the housing market on its own.
They said lenders, which fought hard against changes in the student loan program, have been too quick to say cuts in subsidies will reduce availability of loans.
It is also apparent that at the current level of fees, even small changes in the student loan contract will have substantial implications for lifetime wealth across different income groups, across male and female graduates, and on the sustainability of the student loans system.
Art and artifacts are not the only things that change hands in the loan network, Ms. Gross said.
In addition, after a change in 2002, the loan could be converted into a 40 percent ownership stake in Paamco's parent at any time.
As for the changes in the law, since 2005 most student loans cannot be discharged in personal bankruptcy, indirectly encouraging the supply of credit.
It's about time!" Sarah Edelman, director of housing policy for the Center for American Progress and coauthor of a new report on the problem, told the New York Times that the policy changes "significant improvements" in the loan sale program.
On Wednesday, President Obama plans to announce a number of changes in the federal student loan program.
Decreases in federal grant funding to HBCUs and changes in the Parent PLUS Loan Program have cost black colleges more than $300 million in the last two years, one of the worst stretches in history for public HBCU support.
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