According to court documents, Geist also had students sign promissory notes for the loans without showing them details, informed students they were being awarded with false loans, and granted students sham loans from the school for their personal expenses that were actually federal loans. (studentloans.net)
Private lenders typically require students to sign promissory notes for each separate loan that they take out. (investopedia.com)
The $ 3 mm of promissory notes on the assets side of the balance sheet are offset by $ 3 mm of limited recourse debentures on the liabilities side. (greenbackd.com)