Exact(24)
This is still very low by most standards and Mr Yunus says that repayment rates at Grameen remain impeccable.
The question is how, given the number of cheats and freeloaders around, that repayment can be relied on.
Chapter 13 of the Bankruptcy Code allows student loans like Mr. Espinosa's to be discharged only if a bankruptcy judge finds that repayment would impose an "undue hardship".
Under its plan, the company will push out that repayment to 2015 and 2017, although with higher interest rates, according to court documents.
The chieftain is also present as a witness for larger loans, he says, helping to ensure that repayment rates stay surprisingly high.
Melissa L. Cohn, the chief executive of Manhattan Mortgage, said the gift letter should affirm that the money involved is indeed a gift from the donor and, more important, that repayment is not required.
Similar(36)
"Such a delay increases the risks that repayments to bondholders due in July 2017 may be missed".
Isn't it true that repayments are often insensitive to future income and seldom dischargeable in bankruptcy?
All of these options carry a guarantee of no repossession in the event that repayments cannot be met.
Separate statistics published today by the Building Societies Association BSAshowedowed that repayments continued to outstrip borrowing in the mutual sector.
The loans are designed to finance public sector energy efficiency projects, ensuring that repayments are made from within savings.
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