Notes to SEFA
For the year ended May 31, 2025, Judson University acted as a pass-through agency for Federal Direct Loans (subsidized, unsubsidized and PLUS) to students and parents in the amount of $5,819,480.
The University administers the Perkins Loan Program. For purposes of the schedule, the amount reported includes the outstanding loan balance at the beginning of the fiscal year. Due to regulation changes, no further loans can be made from the program, and no administrative cost allowance can be taken from the loan fund. Institutions have the option of continuing to collect on outstanding loan balances or can voluntarily liquidate the program. The University has no current plans to begin the Perkins liquidation process, however, is required to periodically return excess cash on hand from the program to the Department of Education.
The University is operating under the Provisional Certification Alternative for failure to meet the Department of Education’s standards of financial responsibility. The University must comply with all the requirements specified for the Provisional Certification Alternative including the Zone Alternative. As part of the audit procedures, the University’s compliance with the Zone Alternative including their administration of the heightened cash monitoring payment method, disbursing aid and paying out credit balances before requesting reimbursement and notification requirements was tested. No non-compliance with the requirements was noted.
Judson University did not receive any federal insurance or federal noncash assistance and did not provide any amounts to sub-recipients.