Notes to SEFA
Title: FEDERAL DIRECT STUDENT LOAN PROGRAM (FEDERAL ASSISTANCE LISTING #84.268)
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of The Corporation of Haverford College (the College). The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some information presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
BASIS OF ACCOUNTING
The Schedule is presented 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 allowed or are limited to reimbursement. The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The College is responsible for the performance of certain administrative duties with respect to the Federal Direct Loan Program. The balance of loans outstanding at June 30, 2024 consists of:Federal Direct Subsidized Loans at June 30, 2024 $ 216,562
Federal Direct Unsubsidized Loans at June 30, 2024 517,861
PLUS Loans at June 30, 2024 1,139,679
Total Federal Direct Student Loan Program $ 1,874,102
Title: FEDERAL PERKINS LOAN PROGRAM (FEDERAL ASSISTANCE LISTING #84.038)
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of The Corporation of Haverford College (the College). The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some information presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
BASIS OF ACCOUNTING
The Schedule is presented 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 allowed or are limited to reimbursement. The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Program Cash Balances at June 30, 2024 $ 13,880
Program Loan Balances Outstanding at June 30, 2024 $ 46,873. The loan program noted above is administered directly by the College and balances and transactions relating to these programs are included in the College’s financial statements. Perkins loans cancellations, under Federal Assistance Listing #84.037, for the year ended June 30, 2024 were $-0-.
Title: STUDENT FINANCIAL AID INSTITUTIONAL PROGRAM ELIGIBILITY METRICS
Accounting Policies: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of The Corporation of Haverford College (the College). The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some information presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
BASIS OF ACCOUNTING
The Schedule is presented 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 allowed or are limited to reimbursement. The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Institution is in compliance with the following institutional and program eligibility requirements under the Higher Education Act of 1965 and Federal regulations under 34 CFR 668.23:
• Correspondence courses the institution offers under 34 CFR 600.7(b) and (g)
• Regular students that enroll in correspondence courses under 34 CFR 600.7(b) and (g)
• Institution’s regular students that are incarcerated under 34 CFR 600.7(c) and (g)
• Completion rates for confined or incarcerated individuals enrolled in non-degree programs at nonprofit institutions under 34 CFR 600.7(c)(3)(ii) and (g)
• Institution’s regular students that lack a high school diploma or its equivalent under 34 CFR 600.7(d) and (g)
• Completion rates for short-term programs under 34 CFR 668.8(f) and (g)
• Placement rates for short-term programs under https://www.ecfr.gov/current/title-34/subtitle-B/chapter-VI/part-668/subpart-A/section-668.8 34 CFR 668.8(e)(2)