Many schools, like Bates College, where the comprehensive fee is $55,300, actually incur per-student costs as high as $80,000 and cover the shortfall using interest from their endowments.
Because of the sales shortfall, the interest coverage ratio was temporarily reduced by a quarter point to three times through Oct. 30, 2010.
The telecommunications unit 3 Group posted a loss of HK$20 billion ($2.6 billion) last year, which was a marked improvement from the HK$36.3 billion ($4.6 billion) shortfall before interest and taxes last year.
And there hasn't been a shortfall of interest from foreign investors, particularly from oil giants, which are considering huge investment in a post-sanctions Iran.
This imbalance corresponded to a chronic demand shortfall and tumbling interest rates.
Nobody blinked — not Congress, not the White House, not the investors around the world who keep buying Treasury bonds to finance this year's $1.6 trillion shortfall, at low interest rates.
"Just to have the issue off the table," he said, his private company "will step up in December and cover the small interest shortfall" the project faces, which he estimated at a few thousand dollars.
While the pension's merger with the state system allows Denver's school system to avoid paying interest on shortfalls, that benefit is temporary.
The reasons for the shortfalls are partly financial (interest rates are low), partly political (the law didn't require large enough endowments) and partly architectural (libraries are getting grander).
Mr Espiritu had a deft touch in the bond markets: last year, the country's nimble fund-raising efforts allowed it to make good its budget shortfall at impressively low interest rates.
Nothing in the rules entitled you to inflate your claim for council tax to make up for any shortfall in your claim for mortgage interest".
