Federal Credit : Concepts, Budgetary Treatment & Reform Proposals Paperback / softback
Edited by Ethan A. Kelly
The U.S. government uses federal credit (direct loans and loan guarantees) to allocate capital to a range of areas including home ownership, student loans, small business, agriculture, and energy.
A direct loan is "a disbursement of funds by the government to a non-federal borrower under a contract that requires the repayment of such funds with or without interest." A loan guarantee is "a pledge with respect to the payment of all or part of the principal or interest on any debt obligation of a non-federal borrower to a non-federal lender." At the end of FY2011, outstanding federal direct loans totalled $838 billion and outstanding guaranteed loans totalled $2,017 billion.
This book describes the concepts, budgetary treatment and reform proposals of federal credit.
- Format: Paperback / softback
- Pages: 61 pages
- Publisher: Nova Science Publishers Inc
- Publication Date: 09/04/2013
- Category: Public administration
- ISBN: 9781624175534