Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedules of Expenditures of Federal and State Awards include the federal and stateaward activity of Texas Christian University (the University) for the year ended May 31, 2022. The amountsincluded in these schedules are presented on the accrual basis of accounting, as promulgated byaccounting principles generally accepted in the United States of America. The information in the Scheduleof Expenditures of Federal Awards is presented in accordance with the requirements of Title 2 U.S. Codeof Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). The information in the Schedule of Expenditures ofState Awards is presented in accordance with the requirements of the State of Texas Single Audit Circularincluded in the Uniform Grant Management Standards issued by the Governors Office of Budget andPlanning of the State of Texas. Therefore, some amounts presented in this schedule may differ fromamounts presented in, or used in the preparation of, the Universitys 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 the10% de minimis indirect cost rate allowed under the Uniform Guidance.
The balance of loans outstanding at May 31, 2022 (end of audit period) are as follows: PERKINS LOAN PROGRAM (84.038) $ 1,738,217 NURSE FACULTY LOAN PROGRAM (NFLP) (93.264) $ 2,684,965 NURSING STUDENT LOANS (NSL) (93.364) $ 510,228
Title: STUDENT LOAN PROGRAMS
Accounting Policies: The accompanying Schedules of Expenditures of Federal and State Awards include the federal and stateaward activity of Texas Christian University (the University) for the year ended May 31, 2022. The amountsincluded in these schedules are presented on the accrual basis of accounting, as promulgated byaccounting principles generally accepted in the United States of America. The information in the Scheduleof Expenditures of Federal Awards is presented in accordance with the requirements of Title 2 U.S. Codeof Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). The information in the Schedule of Expenditures ofState Awards is presented in accordance with the requirements of the State of Texas Single Audit Circularincluded in the Uniform Grant Management Standards issued by the Governors Office of Budget andPlanning of the State of Texas. Therefore, some amounts presented in this schedule may differ fromamounts presented in, or used in the preparation of, the Universitys 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 the10% 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, 2022. The balance of loans outstanding at May 31, 2022 are as follows: 84.038 Perkins Loan Program $ 1,738,217, 93.264 Nurse Faculty Loan Program $ 2,684,965, 93.364 Nursing Student Loans $ 510,228. 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, 2022 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, 2022, are as follows: 84.268 Federal Direct Student Loans $ 63,846,847 93.264 Nurse Faculty Loan Program $ 836,818 93.364 Nursing Student Loans $ 29,697