Over the years, its funds have been spread too thin and fail to help many of the neediest students.

It was the first month since September 1990 that these funds failed to have net inflows of cash.

Only two funds ever have failed to pay investors $1.00 per share.

But those whose funds fail the test may be able to relax.

If a fund fails to maintain that $1.00 per share because its securities have declined in value, it is said to "break the buck".

When funds failed to take those steps, investors began complaining to regulators.

Actively managed mutual funds overwhelmingly fail to beat the market.

The active fund managers' argument would be sound if it were not for one point: many of them consistently fail to add value.

It worked for a while, but the fund failed to get out when it could.

The mutual funds have failed to catch on despite costs that, for now, are among the lowest in the industry.