Notes to SEFA
The federal loan program listed subsequently is administered directly by John Carroll University and balances and transactions relating to this program are included in John Carroll University’s consolidated financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at May 31, 2026, consists of Federal Perkins Loans (84.038) - Balances outstanding at the end of the audit period were $515,170.
Of the federal expenditures presented in this schedule, John Carroll University provided no federal awards to subrecipients.