Notes to SEFA
The Perkins Loan Program and Nursing Student Loan Program are administered directly by the University and balances and transactions relating to these programs are included in the University’s consolidated financial statements. The Perkins Loan Program was terminated effective June 30, 2019, and no additional loans will be distributed. The combined loans outstanding under the Perkins Loan Program and Nursing Student Loan Program was $488,993 as of May 31, 2025. The combined loans outstanding under the Perkins Loan Program and Nursing Student Loan Program was $632,155 as of June 1, 2024.
The Federal Direct Lending Program consists of subsidized and unsubsidized Federal Loans (for students) and Federal PLUS Loans (for parents and graduate students). Federal statute requires that proceeds from Federal Direct Lending Loans (subsidized, unsubsidized, and PLUS) be disbursed to the University to bedirectly applied to students’ accounts. New loans processed for students during the year ended May 31, 2025, amounted to $21,438,662. With respect to this program, the University is responsible only for the performance of certain administrative duties and, accordingly, the balances and transactions of these loans are not included in the University’s consolidated financial statements. Therefore, it is not practical to determine the balance of loans outstanding to students and former students of the University as of May 31, 2025.