Notes to SEFA
The College administers and accounts for all aspects of the Federal Perkins Loan (FPLP) and Nursing Student Loans Programs (NSLP). Accordingly, the College’s basic financial statements include all activity related to these programs. FPLP outstanding at August 31, 2025 and 2024 were $421,220 and $527,510, respectively. NSLP outstanding at August 31, 2025 and 2024 were $7,500, respectively. During the year ended August 31, 2025, there were $164,385 new loans made under the Nursing Faculty Loan Program (NFLP), and the loans outstanding at August 31, 2025 and 2024 were $2,147,322 and $2,232,139, respectively. During the year ended August 31, 2025, there were no loans made during the year or administrative costs under the FPLP and NSLP, and there were no administrative costs under the NFLP. With respect to the Federal Direct Student Loans program, the College is responsible only for the performance of certain administrative duties. Therefore, the balances of loans outstanding and transactions related to these programs are not included in the College’s basic financial statements. It is not practical to determine the balance of loans outstanding to students of the College under these programs at August 31, 2025. The schedule includes the amounts loaned to students during the year ended August 31, 2025.