Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Loyola University New Orleans (the University) under programs of the federal government for the year ended July 31, 2025 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Federal direct programs are presented by Federal department and by individual Federal awards. Federal pass-through programs are presented by the entity through which the University received the Federal financial assistance.
During the fiscal year ended July 31, 2025, the University processed new loans of $51,332,359 under the Federal Direct Student Loans, Assistance Listing 84.268. Under Federal Direct Student Loans, loans are provided to eligible borrowers and parents directly by the Federal government. As of July 31, 2025, the Perkins outstanding loan balance is $0 as all remaining Perkins loans had been assigned and accepted to be returned to the U.S. Department of Education as part of the liquidation process. As of July 31, 2025, the total outstanding Perkins loan cash to be returned to the U.S. Department of Education was $123,993, which was paid in full during the year ending July 31, 2026.
In 1999, the University received awards from the National Endowment for the Humanities – NEH Challenge Grant in the amount of $500,000. Monies were used to establish an endowment, and final payment was received in 2005. As of July 31, 2025, $500,000 remains in the corpus of the endowment.
The University has no federally funded insurance for the year ended July 31, 2025.
The University did not receive any federal non-cash assistance for the fiscal year ended July 31, 2025.