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
  • 7.21% 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
  • 7.21% 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

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
PUBLICATIONS
September issue of @Geneva
Read about the professors who received the Excellency in Teaching and Excellency in Scholarship awards.
COMMUNITY
Geneva to participate in Disability Mentoring Day
High school students will come to campus for hands-on programs and job shadowing opportunities.
FACULTY
Professor Richard Talbert joins Communication Department
The new member of Geneva's faculty shares his expertise in integrated media.
ARTS & CULTURE
The Geneva Reading Series continues in 2014
Literary talents will be showcased in McCartney Library on the evening of October 8.
COMMUNITY
Red Cross presents Geneva the College of the Year Award
The campus community was honored for its support of the Red Cross Blood Program.