Notes to SEFA
The accompanying Schedule is presented using the accrual basis of accounting, which is described in Note 1 to the financial statements of the University.
Federal financial assistance revenues from the Federal Work Study and the Federal Supplemental Educational Opportunity Grant programs are reported in the University’s financial statements as federal grant revenue. The activity of the Federal Direct Loan Program and Federal Pell Grant programs are not included in the University’s financial statements, as the benefits of these programs are awarded directly to students and not to the University.
The University is responsible only for the performance of certain administrative duties with respect to the Federal Direct Loan Program and accordingly, it is not practical to determine the balance of loans outstanding to students and former students of the University under these programs at August 31, 2025. The following schedule represents loans advanced by the University as of and for the year ended August 31, 2025:Student Financial Aid: Department of Education; Federal Direct Loan Program - ALN# 84.268 - $49,125,799. The above advances are included as federal expenditures in the Schedule. At August 31, 2025, there was $320,370 outstanding under the Federal Perkins Loan Program.