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

  • 4.66% fixed interest rate for loans first disbursed after 7/1/14
  • 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
  • 4.66% fixed interest rate for undergraduate loans first disbursed after 7/1/14
  • 6.21% fixed interest rate for graduate loans first disbursed after 7/1/14
  • 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 first biopsychology major graduated in 2012 and has been hired as an IOM Tech in UPMC’s Center for Clinical Neurophysiology (CCN).

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Upcoming Events
Aug29
MSOL at PNC Park
 7:05 p.m.

STUDENT ACTIVITIES
Peter Pan Double Feature
The character is featured in the Aug. 30 Movie on the Lawn, as well as the fall play with auditions being held Sep. 1 and 2.
PROSPECTIVE STUDENTS
Upcoming fall visit days
Geneva hosts a variety of visit days based on the interests and availability of prospective students.
ABOUT GENEVA
Geneva College named a College of Distinction
National college guide honors distinctive educational excellence
ABOUT GENEVA
Geneva College announces 5% budget cuts
Commitment to stewardship helps keep a Geneva College education affordable.
PUBLICATIONS
July issue of @Geneva
Read about Proactive Stewardship.