Notes to SEFA
Most federal financial assistance is in the form of cash awards. However, there are a number of federal programs that do not involve cash transactions with the College. These noncash awards include the Federal Direct Student Loan Program (FDSLP) (which includes the Federal Stafford Student Loan Program and the Federal Parent Loans for Undergraduate Students). Loans advanced and related expenditures for the year ended June 30, 2025 are as follows for the following student loan programs: See the Notes to the SEFA for chart/table The College is only responsible for the performance of certain administrative duties with respect to the FDSLP. Therefore, it is not practicable to determine the balance of loans outstanding to students and former students of the College under these programs as of June 30, 2025. These loans are not included in the College’s financial statements. The Federal Perkins Student Loan Program is administered directly by the College, and balances and transactions relating to this program are included in the College’s financial statements. The balance of loans outstanding under the Federal Perkins Student Loan Program is $ 273,528 at June 30, 2025. There were no Perkins Loans advanced in 2025.
The College claimed an administrative cost allowance of $11,765 under the Federal Work Study Program for the year ended June 30, 2025, which is included in the Federal Work Study Program and Federal Supplemental Educational Opportunity Grant balances in the accompanying Schedule.