Geneva College

 

 

Private Loan Disclosures

Federal regulations require all private education loan lenders to produce the following disclosures to borrowers:

  • Application Disclosure: The lender must provide a general range of rates and fees so that borrowers can make informed decisions when choosing a private loan lender.
    • The Application Disclosure provides general information about interest rates, fees, default or late payment costs, and repayment terms. In addition, it includes an example of the total cost of a loan based on the maximum interest rate offered by a lender, a defined loan amount, and calculations for each payment option.
  • Loan Approval Disclosure: When an applicant is conditionally approved for a loan, the lender must send this disclosure with borrower-specific rates and fees.
    • The Approval Disclosure must be provided before the consummation of the loan on (or with) any notice to the applicant that the creditor has approved the consumer’s application for a loan.
    • The Approval Disclosure provides information specific to the loan being approved by the lender, including detailed information on the interest rate and itemization of fees associated with the loan application (including fees associated with late payments and defaults).
    • Borrowers typically have thirty calendar days to accept the loan terms offered. The borrower can accept the terms of the loan by mail, by phone, or electronically.
  • Final Disclosure: This is sent to the borrower after the loan terms are accepted and the school has certified the student’s eligibility for the loan. The Final Disclosure gives the borrower a right-to-cancel period of three business days.

 

Point of Excellence

Among a recent sampling of chemistry graduates, 83% were able to work in an internship or research experience during college years, and 100% had employment in their field or were accepted into graduate school within three months of graduation.

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Upcoming Events
Oct26
Reformation Day Service
Metheney Fieldhouse 6:30 p.m.

Nov01
Geneva Alumni & Friends visit "Annie" at The Benedum
Benedum Center, Pittsburgh 2:00 p.m.

STUDENTS
Geneva partners with Zipcar to offer car sharing
New program provides students a cost effective and sustainable alternative to car ownership on campus.
SERVICE
Service opportunities in Beaver Falls
Students can work with Tiger Pause and the Dare2XL programs.
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.