Notes to SEFA
The Seminary participates in the Federal Direct Loan Program (the FDL Program), including the Federal The Seminary participates in the Federal Direct Loan Program (the FDL Program), including the Federal Department of Education's grant management system (G5) and reconcile disbursements made to the students using such funds. Loans made to eligible Seminary students under the federal student loan program during the year ended June 30, 2025 are summarized above. The Seminary elected not to use the 10% de minimus indirect cost rate for the year ended June 30, 2025. The Seminary is responsible only for the performance of certain administrative functions with respect to the FDL Program, which are not included in the financial statements of the Seminary as the U.S. Department of Education makes these loans. It is not practicable to determine the balances of loans outstanding to students and former students of the Seminary under the FDL Program at June 30, 2025.