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<strong>Emergency action</strong> – A special action taken by the guarantor or by the U.S. Department of Education to temporarily suspend a school, lender, or servicer from participation in the federal student aid programs. An emergency action may be followed by the initiation of formal Limitation, Suspension, and Termination procedures.
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floor (E3, E4)<br />1 The trough of a business cycle or trade cycle after which production, employment and prices rise.<br /> 2 The minimum rate of interest which an issuer of a floating rate security is required to pay.<br /><em>See also:</em> cap; ceiling; collar
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