Notes to SEFA
Title: Note 3 - Federal Loans Disbursed
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available and when applicable. WGU elected not to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
WGU participated in the Federal Direct Student Loan Program. The dollar amounts are listed in the Schedule although WGU is not the recipient of the funds. Such programs are considered a component of the student financial assistance program cluster. Expenditures represent new loans processed for students during the year ended June 30, 2022.