Notes to SEFA
The University administers and accounts for all aspects of the Federal Perkins Loan Program. Therefore, the University’s consolidated financial statements include the program’s balances and transactions. The balance of loans outstanding under the loan program at June 30, 2025 was $392,237. The amount presented on the Schedule is the beginning balance of the loans outstanding at July 1, 2024, plus the amount of the loans issued during the fiscal year ended June 30, 2025. No administrative cost allowance was claimed for the Federal Perkins Loan Program for the year ended June 30, 2025.
For the Federal Direct Loan Programs, the University is responsible only for the performance of certain administrative duties; therefore, the loan balances and transactions for those programs are not included in the University’s consolidated financial statements. It is not practical to determine the loan balances outstanding to students under this program as of June 30, 2025.
The Institution is in compliance with the following institutional and program eligibility requirements under the Higher Education Act of 1965 and Federal regulations under 34 CFR 668.23:Correspondence courses the institution offers under 34 CFR 600.7(b) and (g) Regular students that enroll in correspondence courses under 34 CFR 600.7(b) and (g) Institution’s regular students that are incarcerated under 34 CFR 600.7(c ) and (g) Completion rates for confined or incarcerated individuals enrolled in non-degree programs at nonprofit institutions under 34 CFR 600.7(c )(3)(ii) and (g) Institution’s regular students that lack a high school diploma or its equivalent under 34 CFR 600(d) and (g) Completion rates for short-term programs under 34 CFR 668.8(f) and (g) Placement rates for short-term programs under https://www.ecfr.gov/current/title-34/subtitle-B/chapter-VI/part-668/subpart-A/section-668.8 34 CFR 668.8(e)(2)