Notes to SEFA
Amounts reported in the accompanying schedule may not agree with the amounts reported in the related federal financial reports filed because of accruals.
The Federal Family Education Loan Program (FFELP) under which Trellis operates was established by Congress and is administered by the U.S. Department of Education (ED) as a means of making loans available to students attending colleges, universities and postsecondary educational and vocational schools. FFELP provides for Trellis to guarantee the repayment of principal and accrued interest to lenders for eligible student loans. Trellis was responsible for processing loans submitted for guarantee and issuing loan guarantees through the legislative discontinuation of FFELP loan originations in July 2010. For its residual loan portfolio, Trellis remains responsible for providing collection assistance to lenders for delinquent loans, paying lender claims for loans in default, and collecting loans on which default claims have been paid. Trellis also informs schools, students, lenders, secondary markets and servicers of FFELP requirements. At September 30, 2025, outstanding guaranteed student loans total approximately $5.9 billion. In addition, outstanding defaulted loans at September 30, 2025 are approximately $2.23 billion.
For the year ended September 30, 2025, Trellis did not incur any indirect costs.