Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of Meredith College 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 (“Uniform Guidance”). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
Federal Direct Student Loans of $9,141,055 were received by students of Meredith College during the year ended June 30, 2025. The components as of June 30, 2025 are as follows: See notes SEFSA for chart/table.
During the year ended June 30, 2025, the College completed the liquidation process of its Perkins Loan Program, which was primarily funded by the federal government, with the College providing the required match. As a result of completing the liquidation process, the Perkins loans receivable and related liability were $0 as of June 30, 2025.