Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant expenditures of Excelsior University for the year ended June 30, 2025 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
The University participates in the Direct Loan Program. New loans processed under the Direct Loan program totaled $34,069,386 for the year ended June 30, 2025. The University does not have any continuing administrative or compliance responsibilities for the Direct Loan Program once the student completes the associated trimester.