C.  ACCOUNTS RECEIVABLE AND STUDENT LOANS:

	Accounts receivable of $13,527,000 in the current fund group at June 30, 1996, are principally comprised
 of receivables from the federal government and student account receivables.  The student account receivables are
 carried net of an allowance for doubtful accounts of $160,000.

	Student loans receivable of $29,502,000 in the loan fund group at June 30, 1996, are carried net of an
 allowance for uncollectible loans of $1,819,000.

	The United States Government Programs fund balance at June 30, 1996 includes net University matching
 funds of $1,121,000.