The total $3,243,227 reflects the amounts paid to student’s accounts.
Students received awards amounting to $328,227, including the federal allocation of $246,170, as well as $82,057 in institutional matching funds. The amount reported $246,170 reflects expended federal funds, only.
Gross awards made to students amounted to $679,416, made up of a $521,339 federal share and $158,077 in institutional matching funds. The amount reported $521,339 reflects expended federal funds, only. The amount of community services wages $47,108 reflects actual expenditures spend at a rate of 100% federal share.
The University administers the Federal Perkins Loan Program. The outstanding loan balance as of June 30, 2025 and 2024 was $732,964 and $1,095,604, respectively. There were no new loans issued to students nor was an administrative expense taken for 2025 or 2024.
The University disbursed $25,755,249 in loan proceeds under the Federal Direct Loan program, which includes $14,344,535 in subsidized and unsubsidized Federal Direct Loan proceeds to graduate and undergraduate students, as well as $11,410,714 in Federal Direct PLUS loan proceeds to graduate students and parents of undergraduate students. It is not practical to determine the balances of loans outstanding to students of the University under this program as of June 30, 2025. The University is responsible only for the performance of certain administrative duties and, accordingly, these loans are not included in the University’s consolidated financial statements.