Notes to SEFA
The System acts as an intermediary for students receiving Federal Direct Student Loans (Assistance Listing No. 84.268) (which includes the Direct Stafford Loan and Direct PLUS Loan Programs) from the federal government. The federal government is responsible for the billing and collection programs of the loans. The System assists the federal government by processing the applications and applying funds to student accounts from the federal government. Since the program is administered by the federal government, new loans made in the fiscal year ended December 31, 2025, related to Federal Direct Student Loans and Federal Direct Student Loans – Graduate are considered current year federal expenditures, whereas the outstanding loan balances are not. The new loans made during the fiscal year ended December 31, 2024, totaled $6,191,331 for Federal Direct Student Loans and $2,778,753 for Federal Direct Student Loans – Graduate, as reflected on the schedule of expenditures of federal awards.
The System administers the Nursing Student Loans program (Assistance Listing No. 93.364) and the Federal Perkins Loan Program (Assistance Listing No. 84.038). The following information details the amounts shown per the schedule of expenditures of federal awards and the outstanding loan balances at December 31, 2025: Nursing Student Loans Federal Perkins Loan Program Outstanding balance as of January 1, 2025 2025 advances Administrative allowance $ 119,567 $ – – 6,458 – – Amount of expenditures per the schedule of expenditures of federal awards Outstanding balance as of December 31, 2025 119,567 6,458 $ 103,228 $ 6,458