Notes to SEFA
Title: STUDENT LOAN PROGRAMS
Accounting Policies: The accompanying Schedules of Expenditures of Federal and State Awards include the federal and state
award activity of Texas Christian University (the University) for the year ended May 31, 2023. The
amounts included in these schedules are presented on the accrual basis of accounting, as promulgated
by accounting principles generally accepted in the United States of America. The information in the
Schedule of Expenditures of Federal Awards is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform Guidance). The information in the Schedule of
Expenditures of State Awards is presented in accordance with the requirements of the State of Texas
Single Audit Circular included in the Uniform Grant Management Standards issued by the Governor’s
Office of Budget and Planning of the State of Texas. Therefore, some amounts presented in this schedule
may differ from amounts presented in, or used in the preparation of, the University’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The University uses the applicable federally negotiated indirect cost rate and has elected not to use the
10% de minimis indirect cost rate allowed under the Uniform Guidance.
Perkins Loan Program, Nurse Faculty Loan Program (NFLP), and Nursing Student Loans (NSL) loans are
disbursed by the University from capital contributions from the federal government and the University and
from funds made available by the collection of principal and interest of prior loans. These programs are
administered directly by the University, and balances and transactions related to the programs are
included in the University’s basic financial statements. Loans outstanding at the beginning of the year in
addition to loans made during the year are included in the Schedule of Expenditures of Federal Awards
according to §200.502(b) of the Uniform Guidance. The Perkins loan program expired on September 30,
2017. No additional disbursements are permitted after June 30, 2018, and none were made for the year
ended May 31, 2023.
The balance of loans outstanding at May 31, 2023 are as follows:
Assistance
Listing
Number Program Amount
84.038 Perkins Loan Program $ 1,350,212
93.264 Nurse Faculty Loan Program 3,221,067
93.364 Nursing Student Loans 483,357
The Secretary of Education makes disbursements to students and parents for the Federal Direct Student
Loans based on eligibility as determined by the University. This program is not administered directly by
the University and is presented in the Schedule of Expenditures of Federal Awards as the amount of new
loans made during the fiscal year ending May 31, 2023 according to §200.502(c) of the Uniform
Guidance.
The amounts for new loans the University processed for the student loan programs during the fiscal year
ended May 31, 2023, are as follows:
Assistance
Listing
Number Program Amount
84.268 Federal Direct Student Loans $ 69,002,945
93.264 Nurse Faculty Loan Program 806,457
93.364 Nursing Student Loans 13,697