### Question
What is the definition of net assets?


### Answer
The definition of **net assets** is as follows in *20 U.S.C. § 1087vv*:

> the current market value at the time of application of the assets (as defined in subsection (f) of this section), minus the outstanding liabilities or indebtedness against the assets

#### Citation:
  - *20 U.S.C. § 1087vv*
  - Heading: **CHAPTER 28-HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part E-Need Analysis**

