### Question
How does the law define net assets?


### Answer
Under *20 U.S.C. § 1087vv*, **net assets** is defined as:

> 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 27-NATIONAL VOCATIONAL STUDENT LOAN INSURANCE > SUBCHAPTER IV-STUDENT ASSISTANCE > Part E-Need Analysis**

