If oil continues to tank, I think it is likely that extend and pretend will be invoked on these protects. I've read that nearly 25% of the student population comes from mideast oil countries..
“I think it is likely that extend and pretend will be invoked on these protects.”
As absurd as “extend and pretend” is in the residential mortgage market today, the “extend and pretend” required to prop up bad oil debts and the collateral damage from that will take absurdity to a whole new level.....in academia - students from the ME with spending limits can sink a college town!