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

Biblical Studies professors Dr. Byron Curtis and Dr. Jonathan Watt have both received the Excellence in Scholarship Award, which is determined by Geneva faculty
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Upcoming Events
CURRENT STUDENTS
Branches on campus
The Christian indie/folk band is kicking off the Three Past Three program on October 23.
COMMUNITY
Living in Color: Steppin’ Up—Moving from Theory to Action
The conference, which focuses on getting involved in multicultural issues, will be held Nov. 7-8.
GRADUATE PROGRAMS
MBA program to host Open House
An information session that includes a complementary dinner will be held at the Cranberry Regional Learning Alliance on Tue., Oct. 28.
VISIT EVENTS
Business Day is November 8
Activities for those interested in business majors include simulations and networking with current students, faculty and local business leaders.
GUEST SPEAKERS
Theology professor and author Dr. Vincent Bacote to visit Geneva
The Director of Wheaton College’s Center for Applied Christian Ethics will speak in chapel on Oct 22.