| Education Department, on the Case
For months, leaders at the U.S. Education Department have battled the impression, fostered by Democratic members of Congress and New York Attorney General Andrew M. Cuomo, that the Bush administration did far too little to regulate the behavior of lenders and colleges until its hand was forced by the burgeoning scandal in the student loan industry. .
Training China's pilots & reining in book costs
A new flight training centre for international students has just opened in Fredericton, and already officials say it could be the largest in Canada by the end of the year. CANLink Aviation has set up a franchise of the Moncton Flight College and will begin training 60 student pilots from China. College Principal, Mike Doiron says they expect to be training up to 200 Chinese students per year in Fredericton, and would have to expand to at least one more airport in the province - likely Miramichi. The college already has more than 100 students from China training in Moncton. The provincial government has provided a $1 million repayable loan to assist with the purchase of new airplanes and accommodations. The students already have contracts with airlines in China who pay the training cost of about $80,000 per student.
Sallie deal at risk as buyers question conditions
NEW YORK (Reuters) - A group of private equity firms and banks have threatened to scuttle their planned $25 billion buyout of Sallie Mae, the student lender said on Wednesday, in the most dramatic sign yet that a once-booming takeover market may be cooling. The Sallie Mae buyers blamed proposals to cut government subsidies to student lenders, but analysts said the group may want an excuse to pull out or to negotiate a lower price given recent difficulties in raising financing in the debt market. In another sign that buyers may be holding back, General Electric Co. and Abbott Laboratories Inc. said on Wednesday they terminated a proposed $8 billion deal for the sale of two Abbott diagnostics units to GE, saying they were unable to agree on terms. .
South Africa: Countryis Still Trapped in Debt, Says Regulator
It is important to increase the number of debt counsellors so that the overindebted people can be assisted in getting out of debt," she said. The South African Banking Association said recently that it was planning to introduce an industry-driven and voluntary debt-mediation mechanism to complement the regulator's activities. The regulator was satisfied with preparations by lenders ahead of the implementation of the act said Tlakula. .
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John Edwards: Edwards Unveils Plan To Promote Economically Diverse ...
Jul 17, 2007 -- Cleveland, Ohio – As Senator John Edwards begins day two of his "Road to One America" tour to shine a bright spotlight on the issue of poverty, he will announce a new plan to promote economically diverse schools, so more young people have access to a quality education. Edwards believes we need to make sure that no American is separated from the opportunities of our country. Today's initiative is the latest in his agenda to expand opportunity, which will also strengthen schools and recruit excellent teachers, make college affordable, encourage savings, stop abusive lending, and support affordable housing near good jobs and good schools. "We still have two public school systems in America, and millions of children are separated from opportunity by their race or their class," said Edwards.
What a Difference a Week Makes!
Last week, as the Dow breached the 14,000 mark for the first time, bullish swagger on Wall Street went into overdrive. Some of the bulls that I'm often pitted against on television used the occasion to specifically heap scorn on my assessment of the U.S. economy and my advice in investments. Although the attacks on my economic views were inaccurate on many levels, perhaps their largest oversight was that the Dow was propelled to its milestone largely as a result of multinationals that had seen their foreign earnings increase with the weak dollar. While many of these stocks set new 52 week highs, stocks primarily dependent upon the U.S. economy and American consumers were setting fresh 52 week lows. This divergence of performance provides strong evidence that the U.S. economy remains on track for a severe disruption.
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