Reporting Requirements for Annual Financial Reports of State Agencies and Universities
Pass-Through Activity
Notes to SEFA
Note 3 – Student Loans
Report the total amount of loans disbursed to students under the various federal student loan programs in SEFA Note 3. The total amount of new loans reported in Note 2 is populated from the amount entered in Note 3.
Include the following information in SEFA Note 3:
- ALN
- Total new loans processed for each program
- Beginning balances of loans from prior fiscal years made from federal funds
- Total administrative costs recovered from the federal government for each program
- Interest subsidy received
- Loans or loan guarantees outstanding at fiscal year-end
- Ending balances of loans from prior fiscal years made from federal funds
Note: Ending balances are required because the outstanding loans have continuing federal compliance requirements. The ending balance is calculated as:
Beginning balances of loans from prior fiscal years made from federal funds
+ Total loans processed and administrative costs recovered
– Repayment/Adjustment activity
= Outstanding balance of loans
| ALN | New Loans Processed | Ending Balances of PY Loans |
|---|---|---|
| 84.032 Federal Family Education Loans | Yes | Yes |
| 84.038 Federal Perkins Loans (Perkins)* | Yes | Yes |
| 84.268 Federal Direct Student Loans (Direct Loans) | Yes | No |
| 93.108 Health Education Assistance Loan Program (HEAL) | Yes | Yes |
| 93.264 Nursing Faculty Loan Program (NFLP) | Yes | Yes |
| 93.342 Health Professions Student Loans (HPSL), including Primary Care Loans (PCL) and Loans for Disadvantaged Students (LDS) | Yes | Yes |
| 93.364 Nursing Student Loans (NSL) | Yes | Yes |
| 93.408 ARRA – Nursing Faculty Loan Program | Yes | Yes |
*If the Perkins Loan Program was outsourced, the university must disclose this fact and state the name of the company.