Notes to SEFA
During the year ended May 31, 2025, the College processed $15,814,269 of new loans under the Federal Direct Student Loan Program (Direct Loan). The College is responsible only for the performance of certain administrative duties with respect to the Direct Loan Program and, accordingly, the value of these loans is not reflected in the College’s basic financial statements. It is not practical to determine the balance of loans outstanding to students of the College under this program. Loans listed subsequently are administered directly by the College, and balances and transactions relating to these programs are included in the College’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at May 31, 2025 consists of: Federal Perkins Loan Program (Federal Assistance Listings Number #84.038) Loans Outstanding at May 31, 2024 $ 24,440 Advances - Collections and Adjustments (10,126) Loans Outstanding at May 31, 2025 $ 14,314 On September 30, 2017, the Federal government terminated the Perkins Loan Program. Subsequent to this date students can no longer receive Perkins Loan disbursements. Nursing Faculty Loan Program (Federal Assistance Listings Number #93.264) Loans Outstanding at May 31, 2024 $ 386,449 Advances 31,800 Collections and Adjustments - Loans Outstanding at May 31, 2025 $ 418,249 Nursing Student Loans (Federal Assistance Listings Number #93.364) Loans Outstanding at May 31, 2024 $ 330,086 Advances 13,200 Collections and Adjustments (15,486) Loans Outstanding at May 31, 2025 $ 327,800
The College is in compliance with the following institutional and program eligibility requirements under the Higher Education Act of 1965 and Federal regulations under 34CFR 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)