Text: (Adapted from OMB Circular A-11) Direct loan subsidy cost is the estimated long-term cost to the government of direct loans calculated on a present value basis, excluding administrative costs.
Entailment: (Adapted from OMB Circular A-11) The government's cost of direct loans is calculated on a present value basis.
Contradiction: (Adapted from OMB Circular A-11) Direct loan subsidy costs includes administrative costs.