Notes to SEFA
The Perkins Loan Program (ALN 84.038) listed below is administered directly by the University, and balances and transactions relating to this program are included in the University's consolidated financial statements. Loan activities and balances consist of the following: Balance of as June 30,2024 - $8,302,782, Payments and Adjustments ($2,158,964) and Balance as of June 30,2025 - $6,143,818. As required by the Uniform Guidance, the amount shown on the Schedule as expenditures for the Perkins Loan Program is equal to the balance of the loans outstanding at June 30,2024. Under federal law, the Perkins Loan Program ended on September 30,2017, and final disbursements under the program were permitted through June 30,2018.
During the year ended June 30, 2025, the University processed new loans of $153,318,936 under the Federal Direct Student Loans program. With respect to this program, 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. It is not practical to determine the balances of loans outstanding to students of the University under the Federal Direct Student Loans program as of June 30, 2025.