Concentration of Credit Risk
Concentration of credit risk is the risk of loss attributed to the magnitude of a government's investment in a single issuer. The University does not have a formal policy for concentration of credit risk.
For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the University will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The University does not have a formal policy for custodial credit risk.
Accounts, grants and loans receivable consist of the following as of June 30, 2016 and 2015.
| 2016 | 2015 | |
| Student tuition and fees | $ 12,157,002 | $ 11,791,939 |
| Student loans | 2,453,991 | 2,134,649 |
| Grants and contracts | 5,681,734 | 2,036,872 |
| Other | 34,758 | 258,999 |
| 20,327,485 | 16,222,459 | |
| Less: allowance for doubtful accounts | (13,166,500) | (12,147,058) |
| 7,160,985 | 4,075,401 | |
| Non-current portion | 1,093,100 | 509,872 |
| Current portion | $ 6,067,885 | $ 3,565,529 |