Federal Perkins Loan Program The University administers the Federal Perkins Loan Program. The amount included in the Schedule includes the outstanding balance as of May 31, 2024 of $1,626. The outstanding balance of loans receivable under this program was $1,570 at May 31, 2025. Direct Loans Program The University is responsible only for the performance of certain administrative duties with respect to its Federal Direct Student Loan Programs and, accordingly, these loans are not included in its consolidated financial statements. It is not required that the University maintain the balance of the loans outstanding from students and former students of the University under these programs. Such balances are maintained and administered by the lenders and guarantors of these loans. Disbursements for these loans during the year ended May 31, 2025 consists of Federal Direct Subsidized Loans of $11,832,216. Federal Direct Unsubsidized Loans of $20,883,422, Federal Direct Parent PLUS Loans of $48,360,473, and Federal Direct Graduate PLUS Loans of $6,047,737. The cumulative amount of total loans guaranteed and outstanding at May 31, 2025 is undeterminable.
Under the Federal Work Study Program, the University matched $206,480 in total compensation for the year ended May 31, 2025, in addition to the federal share of expenditures included in the accompanying Schedule.
The University claimed an administrative cost allowance of $72,868 for the year ended May 31, 2025. Of this amount $43,215 and $29,653 are included in the accompanying Schedule as federal expenditures under the Federal Work-Study Program and the Federal Supplemental Education Opportunity Grant Program, respectively.
Grant monies received and disbursed by the University are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. The University does not believe that such disallowances, if any, would have a material effect on the financial position of the University. As of May 31, 2025, management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed.
Below is a summary of significant features and applicable statutes and rules of importance to the administration of the Florida Student Financial Assistance Programs at The University of Tampa, Inc. Effective Access to Student Education Grant (EASE): The EASE grant provides financial assistance to Florida undergraduate students attending independent nonprofit Florida colleges or universities. It is a nonrepayable grant available to one-year residents of Florida. The EASE grant is not based on need. A student may receive EASE for a maximum of nine undergraduate semesters. The amount to be awarded to each applicant will be determined by the state of Florida. EASE is a tuition and fee grant; therefore, the amount of EASE plus all other scholarships and grants specifically designated for payment of tuition and fees cannot exceed the total amount of tuition and fees charged by the institution. EASE is authorized by Section 1009.89, Florida Statutes. Florida Student Assistance Grant Fund (FSAG): The FSAG is a nonrepayable grant awarded only on a need basis to one-year residents of Florida. A student may receive the FSAG for a maximum of nine undergraduate semesters. The minimum and maximum amount to be awarded to each applicant is determined by the state of Florida, the University of Tampa awards each applicant within those parameters. FSAG is authorized by Section 1009.50-1009.52, Florida Statutes. Florida Medallion Scholars Award (FMSA): The FMSA is a state of Florida scholarship under the Florida Bright Futures Scholarship Program which provides certain qualified, first-time-incollege, full-time, undergraduate students with assistance in paying for the costs of education. The applicant should be a Florida resident and should be accepted and enrolled in an eligible Florida public or independent post-secondary education institution. The applicant should complete a Bright Futures Scholarship Program Student Authorization Form by spring high school graduation. The amount to be awarded to each applicant will be determined by the state of Florida. The FMSA is authorized by Section 1009.53, Florida Statutes. Florida Academic Scholars Award (FASA): The FASA is a state of Florida scholarship under the Florida Bright Futures Scholarship Program which provides certain qualified, first-time-incollege, full-time, undergraduate students with assistance in paying for the costs of education. The applicant should be a Florida resident and should be accepted and enrolled in an eligible Florida public or independent post-secondary education institution. The applicant should complete a Bright Futures Scholarship Program Student Authorization Form by spring high school graduation. The amount awarded to each applicant will be determined by the state of Florida. FASA is authorized by Section 1009.53, Florida Statutes. Florida Work Experience Program (FWEP): FWEP provides financial assistance to Florida residents for up to eight semesters, who meet certain financial need and academic progress requirements, and who attend a qualified postsecondary education institution in Florida. The FWEP is authorized by Section 1009.77, Florida Statutes. Children and Spouses of Deceased or Disabled Veterans (CSDDV): The applicant must be a dependent child or un-remarried spouse of a Florida veteran or service member who died as a result of service-connected injuries, diseases, or disabilities sustained while on active duty or have been verified by the Florida Department of Veterans Affairs as having service connected 100% total and permanent disabilities. Veterans must have been Florida residents at the time of death or determination of 100% disability. The applicant must enroll in an eligible post-secondary institution at least half-time. Florida Honorably Discharged Graduate Assistance Program: The Honorably Discharged Graduate Assistance Program (HDGAP) was created by the 2015 Florida Legislature as a supplemental, need-based veteran educational benefit. Funds are used to assist in the payment of living expenses during holiday and semester breaks for active duty and honorably discharged members of the Armed Forces who served on or after September 11, 2001. The populations were provided by the Bureau of Auditing Services, Florida Department of Education. Samples were determined using state of Florida Administrative Code guidelines provided in Rule 6A-20.0021. A random sample of 50 award recipients or 25%, whichever is less, but no less than 10 award recipients or 100% of the recipients if less than 10, were chosen for each program. Students were classified as ineligible, if our examination of supporting documentation disclosed instances of noncompliance with eligibility criteria. Awards were classified as questioned costs, if our examination disclosed one or more of the following conditions: awards made to ineligible students, awards for which supporting documentation was missing, and awards, or the portions thereof, not properly credited to students’ accounts.
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 nondegree 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)