Notes to SEFA
The accompanying Schedule is presented using the accrual basis of accounting, which is described in Note 1 to the University’s basic financial statements. Related federal financial reports are prepared on the cash basis of accounting. Federal financial assistance from the Federal Work Study, Federal Pell and Federal Supplemental Educational Opportunity Grant programs are reported in the University’s financial statements as federal grant revenues. The activity of the Federal Direct Student Loans Program is not included in the University’s financial statements, as the benefits of these programs are awarded directly to students and not to the University.
The University is responsible for the performance of certain administrative duties with respect to the Federal Direct Loan Program; accordingly, it is not practical to determine the balance of loans outstanding to students and former students of the University under this program at June 30, 2025. The following schedule represents loans advanced by the University as of and for the year ended June 30, 2025: Net Federal Perkins Loan Program and Federal Nursing Loan Program loans outstanding at June 30, 2025 were $346,074 and $51,916 , respectively.