Geneva College

 

 

Financial Aid Refund Policy

The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.

If a student leaves the institution prior to completing 60% of a payment period or term, the financial aid office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:

Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.

Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.

If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when federal Title IV funds are returned, the student may owe money to Geneva.

If a student earned more aid than was disbursed to him/her, the institution would owe the student a post- withdrawal disbursement which must be paid within 120 days of the student's withdrawal.

Refunds are allocated in the following order:

  • Unsubsidized Direct Loans (other than PLUS loans)
  • Subsidized Direct Loans
  • Federal Perkins Loans
  • Federal Parent (PLUS) Loans
  • Direct PLUS Loans
  • Federal Pell Grants for which a return of funds is required
  • Federal Supplemental Opportunity Grants for which a return of funds is required
  • Other assistance under this Title for which a return of funds is required (e.g., LEAP)

Links to Geneva College Refund Policies

Traditional Undergraduates
ADCP Handbook (see link in left margin)
ADCP Bridge Courses
Graduate Programs – please check with your program


 

Point of Excellence

Geneva provides the versatility for accounting students to meet all the requirements for the new CPA licensure exam either as part of their bachelor’s degree or their master’s degree.

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Upcoming Events
Apr23
Chapel
Geneva chaplain Rutledge Etheridge
Metheny Fieldhouse 10:10 a.m.

Apr23
Networking & Etiquette Dinner
Presidents Dining Room 5:00 p.m.

SUMMER CLASSES
Advance your degree through May@Geneva
Running May 12 through June 6, May term offers key courses as well as electives and travel options.
COMMUNITY
Geneva to host National Day of Prayer breakfast
Faculty, staff, students and the community are invited to campus for prayer and breakfast on Thu., May 1 at 7:30 a.m.
ALUMNI
Celebration Weekend for the classes of ’54 and ’64
Special events for 50- and 60-year alumni are planned to coincide with Commencement.
ARTS & CULTURE
Geneva Reading Series IV: "A New, New Hope"
The final event in the series for the 2013-14 academic year will be on Apr. 23 at 7 p.m.
ARTS & CULTURE
Symphonic Band to present Spring Concert
The 68-member ensemble will perform on Apr. 26 at 7:30 p.m.