Notes to SEFA
The federal student loan programs listed subsequently are administered directly by Shenandoah University, and balances and transactions relating to these programs are included in Shenandoah 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. As described in the Schedule, the University complied with Federal Perkins Loan program closeout requirements for the year ended June 30, 2025. See notes to the SEFA for chart.