Notes to SEFA
Loans made by the University to eligible students under the State of New Jersey College Loans to Assist State Students Program and the Federal Direct Student Loan Program during the year ended June 30, 2025 were as follows: Federal Direct Student Loans $45,364,410 New Jersey College Loans to Assist State Students $2,564,670 The University is responsible only for the performance of certain administrative duties with respect to the Direct Loan Program and the New Jersey College Loans to Assist State Students Program and has no responsibility to collect these loans. Accordingly, these loans are not included in the University’s financial statements. It is not practicable to determine the balance of loans outstanding to students of the University under these programs as of June 30, 2025.
The Federal Perkins Loan expenditures presented in the accompanying Schedule of Expenditures of Federal Awards of $449,105 represent the total balance of loans outstanding under the Perkins Program. No new loans were made from the loan fund as the program has been discontinued by the Federal Government.
The University passed through the following Federal awards to subrecipients during the year ended June 30, 2025: Federal Program: National Institute of Justice Research, Evaluation, and Development Project Grants (Research and Evaluation of Policing); Subrecipient: Rutgers, The State University; Assistance Listing Number: 16.560; Pass-Through Expenditures: $15,317 Federal Program: National Institute of Justice Research, Evaluation, and Development Project Grants (Research and Evaluation of Policing); Subrecipient: Northwestern University; Assistance Listing Number: 16.560; Pass-Through Expenditures: $34,340 Federal Program: Hazard Mitigation Grant; Subrecipient: American Littoral Society; Assistance Listing Number: 97.039; Pass-Through Expenditures: $9,497