University of Oregon 2019 Annual Financial Report
Notes to the Financial Statements
For the Year Ended June 30, 2019 (dollars in thousands)
5. Notes Receivable
Student loans made through the Federal Perkins Loan
Program comprise substantially all of the federal
student loans receivable at June 30, 2019 and 2018.
Notes receivable comprised the following:
Current
June 30, 2019
Noncurrent
Total
Current
June 30, 2018
Noncurrent Total
Institutional and Other
Student Loans
S
Federal Student Loans
1,224
18,209
19,433
-
$ 1,224
18,209
19,433
$ 1,428
$ 1,428
3,289
4,717
18,419
18,419
21,708
23,136
Less: Allowance for Doubtful
Accounts
(311)
Notes Receivable, Net
$ 19,122 $
-
$
(311)
19,122
(412)
(1,052)
(1,464)
$ 4,305 $ 17.367 $
21,672
The UO administers Title IV Perkins Loans for the
benefit of its students. Funds for the Perkins program
were initially received through Federal Capital
Contributions (FCC) from the U.S. Department
of Education (ED) and were supplemented with
Institutional Capital Contributions (ICC).
The U.S. Congress did not renew the Perkins Loan
program after September 30, 2017, and no loan
disbursements were permitted past June 30, 2018.
In accordance with ED guidance, UO has elected
to liquidate its Perkins loan portfolio and assign
outstanding loans to ED for servicing.
Historically, the balance of the Perkins loans was
reported in Notes Receivable (both current and
noncurrent) and in Net Position Expendable for
Student Loans.
Due to the impending portfolio liquidation, balances are
being reported solely in Notes Receivable-Current, and
an accrued liability has been established for the return
of FCC and calculated excess capital (cash) to ED.
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