text: ( Kohler 's Dictionary ) Credit subsidy cost is the estimated long-term cost to the government of direct loans or loan guarantees calculated on a net present value basis , excluding administrative costs .
  
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  According to Kohler 's Dictionary the definition of Credit Subsidy Cost is defined as the " the estimated long-term cost to the government of direct loans or loan guarantees calculated on a net present value basis , excluding administrative costs . " .