Geneva College

 

 

Direct Subsidized/Unsubsidized Loans

*Must be enrolled for at least 6 credits per semester

Available in two varieties depending upon level of need:

Subsidized

  • 3.86% fixed interest rate for loans first disbursed after 7/1/13
  • 1.051% fee deducted upon disbursement

Unsubsidized

  • Interest accumulates while in school although payment can be postponed
  • The cost of borrowing is less if you make interest payments while in school
  • 3.86% fixed interest rate for undergraduate loans first disbursed after 7/1/13
  • 5.41% fixed interest rate for graduate loans first disbursed after 7/1/13
  • 1.051% fee deducted upon disbursement
  • For all new borrowers who receive a loan on or after July 1, 2013 the 150% limitation rule is in place. A borrower who is eligible for a
    subsidized loan will reach their subsidized limit at 150% of a programs length of study. For example, if a borrower is enrolled in a 4-year
    bachelor’s degree program, the maximum period for which they can receive Direct Subsidized Loans is 6 years (150% of 4 years = 6
    years). For additional information, please refer to http://ifap.ed.gov/eannouncements/attachments/051613DirectSubsidizedLoanLimit150PercentAnnounce1Attach.pdf.

Amount qualifying for interest subsidy is limited and in some cases the entire amount will be unsubsidized. Graduate students are eligible for unsubsidized loans only.

Amounts

Year in School Dependent Student Independent Student
Freshmen $5,500 $9,500

Sophomore

$6,500 $10,500

Junior or Senior

$7,500 $12,500
Grad Student $20,500

 

  1. Repayment begins 6 months after enrolled less than half-time (6 credits) or graduated
  2. Students are encouraged to begin repayment as soon as possible. To identify the loan servicer (company that, on behalf of the US Dept of Education, handles your loan repayment) and get their contact information, log into www.nslds.ed.gov.

Steps to Receive a Direct Loan:

  1. File FAFSA and respond to financial aid award letter
  2. Complete Entrance Counseling by logging into www.studentloans.gov
  3. Complete Master Promissory Note (MPN) by logging into www.studentloans.gov
For helpful loan repayment calculators and other helpful resources, visit www.geneva.edu/object/financial_literacy
 

Point of Excellence

The Department of Biblical Studies offers opportunities to study at Jerusalem University College or at the Covenanter Theological Institute in Airdrie, Scotland.

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

Apr23
The Geneva Reading Series

McCartney Library 7:00 p.m.

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.
GRADUATE PROGRAMS
Justin McElhattan named 2014 Serving Leader
The award will be presented at the MSOL Serving Leaders Conference on Apr. 10.