Notes to SEFA
The Federal Perkins Loan Program and Federal Nurse Faculty Loan Program are administered directly by the University, and balances and transactions relating to these programs are included in the University's basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. Federal Perkins Loans and Nursing Faculty loans had outstanding balances as of June 30, 2025 of $165,210 and $24,695, respectively. The University elected to cease participation in the Nursing Student Loan Program in October 2024. Upon final assignment of outstanding loans, the federal portion of remaining cash and liquid assets in the fund totaling $402,729 was returned to the federal government.