Geneva College

 

 

Direct PLUS Loans

Parent PLUS Loan

  • Borrower is parent of a dependent undergraduate student
  • Can be discharged in the event of death or disability
  • Parent must pass a credit check. If parent does not pass credit check, student can get additional Direct Unsubsidized Loan or parent can add a credit-worthy endorser (co-signer).
  • Can borrow up to the cost of education less any other aid received
  • 6.41% fixed interest rate
  • Federally mandated 4.204% fee subtracted upon disbursement
  • Repayment begins 60 days after loan is fully disbursed but payment can be deferred while student is enrolled. Parent must contact Direct Loan Servicing at 800-848-0979 to request deferment or indicate preference on loan application.
  • To apply, log into www.studentloans.gov with the parent/borrower PIN number and personal information. The Financial Aid Office will be notified of the credit decision within 1-3 days
  • Be sure to compare the Direct PLUS Loan with the Private Student Loans to see which option best suites your situation and family. For borrowers with a 750 credit score or higher, a private loan may be more cost effective.

Steps to Receive a Parent PLUS Loan:

  1. File FAFSA and apply for PLUS Loan at www.studentloans.gov.
  2. Complete PLUS Master Promissory Note (MPN) by logging into www.studentloans.gov

Direct GRAD PLUS Loan

  • Borrower is a student in a graduate program
  • Can be discharged in the event of death or disability
  • Student must pass a credit check
  • Can borrow up to the cost of education less any other aid received
  • 6.41% fixed interest rate
  • Federally mandated 4.204% fee subtracted upon disbursement
  • Automatic deferment for Grad PLUS borrower while enrolled (at least 6 credits)
  • Can be consolidated at fixed rate with other federal loans (see www.loanconsolidation.ed.gov for details)
  • Be sure to compare the Grad PLUS Loan with the Private Student Loans to see which option best suites your situation and family. For borrowers with a 750 credit score or higher, a private loan may be more cost effective.

Steps to Receive a Graduate PLUS Loan:

  1. File FAFSA and apply for PLUS Loan at www.studentloans.gov.
  2. Complete PLUS Master Promissory Note (MPN) by logging into www.studentloans.gov
  3. Complete PLUS Entrance Counseling 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

U.S. News & World Report recognizes Geneva College as a Top 10 Best Value School out of all North Region colleges, accounting for our academic quality and the net cost of attendance for those receiving the average level of need-based financial aid.

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Upcoming Events
Apr23
The Geneva Reading Series

McCartney Library 7:00 p.m.

Apr25

COMMUNITY
2014 One Acts –“Comic Relief”
The collection of five student-driven plays runs from April 24-26.
COMMUNITY
“How Then Shall We Sing? An evening of Psalms” at the College Hill RP Church
New Song and The Grace Notes will perform Psalms in a variety of styles on Wed., Apr. 30 at 7 p.m.
ADMISSIONS
Representatives will be in Cranberry on April 29
Information about a variety of undergraduate and graduate programs, which are offered through seven institutions including Geneva, will be presented.
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.