Notes to SEFA
The accompanying Consolidated Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Agency Operating Fund for Massachusetts Higher Education Assistance Corporation d/b/a Britebound ("Britebound") under programs of the federal government for the year ended December 31, 2025. 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 (the "Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of Britebound, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of Britebound.
Further details regarding the Federal Family Education Loans (Guaranty Agencies) Assistance Listing Number 84.032 are as follows at December 31, 2025: SEE FINANCIAL STATEMENTS FOR TABLE.
Britebound provided Federal Awards to subrecipients for the year ended December 31, 2025 as follows: SEE FINANCIAL STATEMENTS FOR TABLE.